A former participant in a Duke Energy Corp. 401(k) plan sued the company and plan fiduciaries alleging they violated ERISA rules in managing the plan.

The plaintiff argued that the Duke plan paid record-keeping fees that were well above “competitive marketplace rates,” according to the complaint filed Wednesday in U.S. District Court in Charlotte, N.C.

The 401(k) plan has had the same record keeper “for at least the past decade, and the fees remained “roughly the same between 2014 and 2018 while marketplace rates were dropping,” the former participant alleged.

“This gives rise to the inference that defendants failed to monitor record-keeping compensation during that period and failed to solicit competitive bids from other record keepers that would have resulted either in retention of a

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