(27/7 News) -- One of the largest retirement plan providers in the U.S. is facing a lawsuit over the 401(k) plan it offers its own employees.
Some current and former Fidelity workers are charging that expensive Fidelity mutual funds monopolize the plan. They say lower-fee options are available within Fidelity's own offerings and from other providers.
Fidelity is the 401(k) provider for approximately 12-million workers in thousands of companies. The company has filed to dismiss the lawsuit, citing its employees have a wide variety of investments to choose from, including low-cost index funds.