When luxury pricing goes awry

Gucci America, Inc. has typically been known as a luxury brand that charges a significant premium for their goods.  Unfortunately some employees feel like that has also been the approach taken by their retirement plan vendor Transamerica.

Gucci Retirement Plan Sued for Charging Excessive Fees

We commonly see small plan sponsors complacent regarding their retirement plan approach because they view themselves as being too small to face a lawsuit.  2017 saw a number of small plans start to face suits (some egregious, some with merit in our humble opinion) and a proactive approach by plan committees is the best defense.