Amentum Sued Over 401(k) Plan Funds After Acquiring DynCorp (1)

Defense and security contractor Amentum Government Services Parent Holdings LLC was hit with a proposed class action saying its $1.6 billion 401(k) plan is plagued by pricey mutual funds that should have been swapped for cheaper alternatives.

The retirement plan covering employees of DynCorp International LLC offered overly expensive mutual and target date funds both before and after that company’s 2020 acquisition by Amentum, plaintiff Jay Middleton said in a complaint filed Tuesday in the US District Court for the District of Kansas. Despite the “enormous size” of the merged plan covering the two companies’ workforces, Amentum failed to negotiate ...