Former Maersk Employee Sues Over 401(k) Fees, Uneven Charges

Maersk Inc. was sued Friday by a former employee who says the container shipping company mismanages its retirement plan by overpaying for administrative services and charging higher fees to former employees.

The proposed class action, filed in the US District Court for the Western District of North Carolina, says participants in Maersk’s $766 million retirement plan were forced to pay average annual administrative fees of $190, when similar plans paid about $47 per person for administrative services.

The company’s pension committee improperly failed to use the plan’s “mammoth size” as leverage to negotiate for lower fees, plaintiff Charlene Leon ...