Evergy and SageView settle 401(k) target-date fund lawsuit
Updated
Updated · Bloomberg Law · May 7
Evergy and SageView settle 401(k) target-date fund lawsuit
8 articles · Updated · Bloomberg Law · May 7
The proposed $2.6 million deal, filed in federal court in western Missouri, splits payments into $1.7 million from Evergy defendants and $900,000 from SageView.
It would resolve a certified class action covering at least hundreds of participants in Evergy's retirement plan.
The year-old case challenged American Century target-date funds selected for the 401(k) plan and the related investment advisory services.
Can a new government safe harbor rule finally shield company 401(k) plans from constant lawsuits?
When lawsuit payouts are so small, are employees truly protected from poor 401(k) investment choices?
Are popular target-date funds flawed if they fail to protect savings during market stress?