Benefits & Executive Compensation News

Citigroup Workers’ Counsel Seeks $2.6M Award in 401(k) Row

Nov. 5, 2018, 5:20 PM

Attorneys for Citigroup Inc. workers who accused the bank of loading its 401(k) plan with high-fee, proprietary mutual funds want more than $2.6 million in fees and expenses.

The request comes three months after the parties agreed to settle the dispute for $6.9 million. Citigroup faced claims from a class ofas many as 189,470 individuals who participated in the bank’s plan as of 2005 and who invested in any of the nine affiliated funds during the class period.

Law firms Bailey & Glasser LLP, McTigue Law LLP, and Keller Rohrback LLPsay that the requested $2.3 million fee—one-third of...

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