February 10, 2025
A Texas federal judge tossed an excessive recordkeeping fees suit Monday from a proposed class of Baker Hughes 401(k) plan participants, finding evidence wasn't presented to show that the plan administrator owed a fiduciary duty in regard to so-called float money.
July 16, 2024
An ex-worker for Baker Hughes claiming his employee 401(k) plan lost millions because of unreasonably high recordkeeping fees asked a Texas federal court to certify a class of more than 23,000 retirement plan participants accusing the company of mismanagement, following a failed attempt to mediate the dispute.
May 26, 2023
Baker Hughes Holdings LLC urged a Texas federal court to toss a lawsuit from a proposed class of ex-workers alleging an employee 401(k) plan lost millions due to unreasonably high record-keeping fees, calling accusations that a vendor was allowed to illegally profit off of plan funds "threadbare assertions."