Koch, Voya settle 401(k) fee lawsuits
Koch will pay $4 million in a case alleging excessive record-keeping fees, and Voya reached a confidential agreement in a separate lawsuit. Yum Brands was also sued by a participant who claims he was wrongly classified as an independent contractor and denied retirement benefits.
Koch Industries has settled an 401(k) excessive-fee lawsuit, according to court records filed this week.
The company will pay $4 million to compensate participants in its plan, and it agreed to seek a more competitive rate for record-keeping services.
According to the complaint filed last year
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