International Paper - PLANSPONSOR.com

Case 3:06-cv-00703-DRH-CJP Document 2 Filed 09/11/2006 Page 43 of 52184. Here, despite the Defendants’ duty to disclose full and accurate informationregarding the fees and expenses assessed against participants’ accounts, on an ongoing basisDefendants failed and refused to disclose to, and to inform the participants of:a. the total amount of fees and expenses reasonable and necessary to operate thePlans;b. the total amount of fees and expenses the Plans actually paid to serviceproviders in the form of Hard Dollar payments and Revenue Sharing;c. the availability of Revenue Sharing;d. the true and accurate details regarding the revenues and expenses of the Plans;e. the true and accurate operating expenses which reduce participants’ returns,including both Hard Dollar payments and Revenue Sharing, for each of thePlans’ investment alternatives;f. the true and accurate transaction fees and expenses which affect theparticipants’ accounts in connection with the purchase or sale of investmentalternatives;g. the amount, when both Hard Dollar Payments and Revenue Sharing areconsidered, by which the Plans’ expenses exceeded those which werereasonable and incurred solely in participants’ interests; andh. other revenue and expense information necessary for the participants tounderstand and protect their interests in the Plans.185. Based upon the foregoing, Defendants are not entitled to the safe harborprotections of ERISA § 404 (c).43