AmerisourceBergen 401(k) Plan Fee Lawsuit Settles for $625,000

AmerisourceBergen Corp. signed a $625,000 settlement agreement with workers who say the pharmaceutical company’s retirement plan charges excessive fees.

The proposed deal would cover more than 51,000 people who had account balances in the AmerisourceBergen plan since June 2017. It represents about 19.5% of the plan participants’ total estimated losses, they said in a motion for preliminary settlement approval filed Wednesday in the US District Court for the Western District of Kentucky.

The deal is subject to approval from Judge David J. Hale, who last year allowed participants to press claims based on the plan’s alleged annual recordkeeping fees ...