A federal class action lawsuit concerning T. Rowe Price’s 401(k) Plan, known as the T. Rowe Price U.S. Retirement Program, was filed February 14, 2017. It is brought on behalf of current and former T. Rowe Price employees who have, or had, 401(k) accounts (their retirement savings) in the company’s Plan. The lawsuit alleges that T. Rowe Price violated federal law and reaped millions of dollars in illicit fees by offering only T. Rowe Price’s own in-house investment funds in the 401(k) Plan, failing to offer the lowest cost versions of those funds, and failing to even consider any funds from other companies that offered lower fees and better performance. Additional information on the case can be found here.
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