In the benefits world, Kraft Foods is known for much more than mac and cheese.
Recently, former and current participants sued Kraft and other fiduciaries responsible for administering the 401(k) plan for failing to fulfill its fiduciary duty by charging unreasonably high service fees, such as the $3.4 million paid to consultants at Hewitt Associates for record-keeping services in 2004.
At its peak, Kraft's 401(k) plan included 55,000 participants and $5.4 billion in assets.
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