Adviser offers lessons learned from Hecker v. Deere

April 2010
Employee Benefit News;Apr2010, Vol. 24 Issue 4, p1
The article discusses the 2009 decision of the 7th Circuit U.S. Court of Appeals in Hecker v. Deere & Co. that 401(k) fiduciaries were not in breach of their responsibilities when they included funds with excessive fees in the investment menu. The plaintiffs alleged that a breach of fiduciary obligations has been committed by Deere when it failed to disclose revenue-sharing between Fidelity Trust and Fidelity Research. The court held that the investment mix for 401(k) participants was sufficient.


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