Koch Industries settles ERISA suit alleging excessive 401(k) fees

Koch Industries Inc. will pay $4 million and find a new retirement plan record keeper as part of a class action settlement of a lawsuit that challenged administrative fees of its retirement savings plans, reports Bloomberg Law. The settlement is expected to benefit about 101,000 people who were covered by three 401(k) plans affiliated with Wichita, Kan.-based Koch Industries.

 

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