FM Global Will Face Trimmed Suit Over 401(k) Fees, Investments

FM Global must defend the bulk of a proposed class action saying the Rhode Island-based insurance company mismanages its $1.8 million 401(k) plan through high fees and poorly performing funds.

The company formally known as Factory Mutual Insurance Co., said the case was based on flawed calculations that incorrectly overstated the plan’s fee levels. Judge Julia E. Kobick of the US District Court for the District of Massachusetts declined to dismiss the case on this basis, saying on Jan. 31 that “whether the plaintiffs accurately calculate the Plan’s fees, as they allege, or inflate those fees, as the defendants contend, ...