Herrick v. State of California

Opinion

JOHNSON, J.

Plaintiffs are participants in the State of California deferred compensation plan. The essence of their complaint is that the method by which the state assesses and collects the administrative costs of the plan from the participants violates the fiduciary duty owed to the participants by the state as trustee of the deferred compensation funds and violates the terms of the plan itself.

The trial court ruled that no trust relationship existed between the state and the plan participants and that the method of assessing and collecting administrative costs did not violate the…