Evergy Inc. workers challenging the target-date funds in their 401(k) plan negotiated a $2.6 million class settlement resolving claims against their employer and the plan’s investment adviser.
The proposed deal, announced Wednesday in the US District Court for the Western District of Missouri, includes a $1.7 million payment by the Evergy defendants and a $900,000 payment by SageView Advisory Group LLC, which provided investment advisory services to the Evergy plan. It would resolve a certified class action covering “at least hundreds” of participants in Evergy’s plan.
The year-old lawsuit challenges a suite of American Century target-funds tapped to serve ...
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