Supreme Court won't review Hecker v. Deere 401(k) fee decision

The US Supreme Court has declined to review a controversial pro-fiduciary decision on 401(k) fees (Hecker v. Deere). In 2009, the US Seventh Circuit Court of Appeals ruled that participants’ ability to select from a wide range of funds within the structure of ERISA Section 404(c) shielded fiduciaries from claims of excessive fees. Denying a Department of Labor request for rehearing, the Seventh Circuit said a future lawsuit or regulation would have to resolve whether 404(c) protections apply to a fiduciary's fund selections. Subsequent court rulings on similar claims have been mixed.  (Select News, 21 Jan 2010)

• Full text of order list denying certiorari in Hecker v. Deere (Supreme Court, 19 Jan 2010) (PDF)
• Full text of Seventh Circuit's decision in Hecker v. Deere (12 Feb 2009)

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