Humana, Workers Agree to 48,000-Person Class in 401(k) Fee Suit

Humana Inc. agreed to have litigation over its 401(k) plan fees resolved as a class action covering more than 48,000 people.

The proposed class includes everyone covered by the Humana Retirement Savings Plan since April 2015, excluding the defendants and their immediate family members. The parties’ stipulation, filed Monday in the US District Court for the Western District of Kentucky, also includes an agreement to dismiss claims levied against Humana’s board of directors.

The lawsuit claims Humana’s retirement plan charges excessive administrative fees and is filled with overly expensive investment options. Judge Rebecca Grady Jennings allowed the case to ...