Case: Retirement Funds/Class Actions (D. Neb.)

Mutual of Omaha Insurance Co.'s $6.7 million settlement in a class suit challenging the affiliated investment funds in its 401(k) plan received final approval from the U.S. District Court for the District of Nebraska. The settlement will benefit about 7,000 people with retirement savings invested in the Nebraska-based insurer’s $500 million retirement plan. It resolves a lawsuit claiming the 401(k) plan was filled with affiliated investment funds that were essentially funds offered by third parties, plus an extra layer of fees that went to Mutual of Omaha. The court also approved more than $2.2 million in attorneys’ fees and expenses ...