Dialysis Provider DaVita Inks $2 Million 401(k) Fee Settlement

DaVita Inc. signed a $2 million settlement agreement with a proposed class of employees challenging the dialysis provider’s 401(k) plan fees.

The deal, announced Tuesday in the US District Court for the District of Colorado, is slated to benefit about 56,000 people covered by DaVita’s retirement plan since 2016. The payment will be funded by DaVita or its insurers, according to the plan participants’ motion, which didn’t include details on how the settlement amount compares to their estimated damages.

The lawsuit says DaVita allowed its $2.6 billion retirement plan to pay annual recordkeeping fees as high as $96 per ...