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Vail Corporation Excessive Fee Case

A participant in the Vail Resorts 401(k) Retirement Plan has filed a lawsuit against the company, claiming that plan fees were excessive compared to those of comparable sized 401(k) Plans, lowering net returns to participants. A “commercially available program” was used to review the Plan’s “performance, comparable cost, and other key indicators.” More specifically, 18 of the 27 mutual funds offered within the Plan’s investment menu allegedly had alternate share classes available at lower cost with higher returns.; February 27, 2020.