Liberty Mutual Can't Sink ERISA Fee Suit

By Rachel Stone (June 15, 2021, 8:09 PM EDT) -- A Massachusetts federal court on Tuesday refused to toss a proposed class action lodged by Liberty Mutual workers who claimed the company saddled their retirement plan with too-high fees and sluggishly performing funds, costing them millions of dollars and violating federal benefits law.

U.S. District Judge Mark Mastroianni cast aside the insurer's motion to dismiss in his electronic docket order, determining that the proposed class of workers and retirees had sufficiently pled their case alleging Liberty Mutual Group Inc. mismanaged their 401(k) plan and breached the Employee Retirement Income Security Act.

Liberty Mutual and its 401(k) plan administrative committee told the...

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