Sedgwick Claims Management Services Inc. will pay $3 million to settle a proposed class action challenging its decision to charge tobacco-using employees an extra $1,300 per year for health-care coverage.

Requiring workers challenging their 401(k) investment options to identify a “meaningful benchmark” in their complaints creates perverse incentives for retirement plan fiduciaries, multiple groups argued in a series of US Supreme Court briefs.

BP Plc is considering potentially exiting part or all of its operations in the UK North Sea, people familiar with the matter said, as the oil giant works to strip assets and pay down debt.

Bank of America Corp. failed to secure an immediate appeal of a decision requiring it to defend how it handles the 401(k) contributions forfeited by departing employees.

AT&T Inc. mismanaged a 401(k) plan service provider arrangement in violation of federal law and must defend other aspects of its plan at trial, according to a sealed opinion made publicly available Thursday.

The Labor Department granted an exemption to allow asset managers under the Swiss-based UBS Group AG to continue managing retirement assets until May 2035, with certain conditions.