Estimated reading time: 0 minutes, 18 seconds

Lockheed Martin to Pay $62M Over 401(k) Litigation

Saturday, Feb 28 2015
Regulatory & Compliance
Written by  PFA News

Defense contractor Lockheed Martin will pay $62 million to settle litigation that claimed the company concealed excessively high fees in its retirement plan to the detriment of employees. So reports Reuters.

Lockheed will deposit the money into retirement plan members’ accounts or mail checks to former employees while also taking steps to minimize future plan fees.

Read the full article from Reuters.

Read 6282 times
Rate this item
(0 votes)
More in this category: « Supreme Court Hearing 401(k) Excessive Fees Litigation President Obama Proposes Retirement Broker Rules »

Visit other PMG Sites:
PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline