Olin Corp. Sued Over Retirement Plan Administrative Fees, Funds

Olin Corp. was sued in federal court by a proposed class of workers who say the Missouri-based ammunition maker’s $930 million retirement plan charges excessive record keeping fees while offering expensive and poorly performing investment options.

The plan’s annual record keeping fees, which ranged between $44 and $151 per person, were “astronomical” when benchmarked against similar retirement plans, Malika Riley and Takeeya Reliford said in a complaint filed Tuesday in the U.S. District Court for the Eastern District of Missouri. Olin’s decision to use the same plan record keeper for several years running suggests the company didn’t fulfill its duties ...