Trader Joe's
The excessive 401(k) fees class-action lawsuits keep coming. In late January, Trader Joe’s Co. employees filed a class-action suit against the grocery chain, alleging their retirement plan was overinvested in a single fund that charged “needlessly high fees” and misused forfeited funds.
About 70 percent of the Trader Joe’s $2.7 million 401(k) plan—nearly $2 billion—was invested in the American Funds American Balanced Fund R4 until 2021, even though “much cheaper” versions of this investment were available, workers said in the complaint, Stephan et al v. Trader Joe’s Co. et al., filed in U.S. district court for the District of Massachusetts.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
