Biogen Gets Final OK for $9.75 Million 401(k) Fee Settlement

Biogen Inc. received final court approval for a $9.75 million settlement with a class of workers challenging their 401(k) plan fees and investment options.

The deal is slated to benefit about 12,000 people covered by the Biogen 401(k) plan since 2014. It includes a pledge by Biogen’s retirement committee to complete an ongoing search for a plan investment adviser, receive annual fiduciary training, evaluate specific aspects of the plan’s investment lineup, and consider expanding the committee from three to five members.

Judge Denise J. Casper of the US District Court for the District of Massachusetts signed the final approval order ...