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Fidelity, Centene Sued Over Alleged Excessive 401(k) Fees, Misuse of Forfeited Assets
News November 19, 2025 at 03:26 PM
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What You Need To Know
- Centene used forfeited plan assets to reduce its own plan contributions instead of benefiting plan participants, the complaint alleges.
- Fidelity affiliates served as both trustee and investment adviser to the plan — a conflict of interest, according to the plaintiff.
- A wave of litigation is challenging how employers allocate forfeited 401(k) assets and manage plan costs.
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