On August 2, the United States District Court for the Western District of New York dismissed the complaint filed in Zang v. Paychex, Inc., one of several putative class actions challenging 401(k) fees, revenue sharing and float. As discussed in the attached memo, the court concluded that Paychex could not be considered an ERISA fiduciary, which was a prerequisite to plaintiff’s ERISA-based claims against the company.

 

Latest Resources

Events

05/16/2024

Groom Event

Events

04/09/2024

National Association of Plan Advisors

Publications

03/26/2024

This Week From the Hill