L3Harris Workers Challenging 401(k) Fees Score Class of 52,000

Former L3Harris Technologies Inc. employees challenging how the defense and aerospace contractor manages its $13.5 billion 401(k) plan won a court order certifying their case as class action covering about 52,000 people.

Judge Paul Byron on Monday certified a class of participants in the L3Harris plan who either paid recordkeeping fees between 2015 and 2018 or invested in certain challenged investment options between 2015 and 2019. The class includes 52,398 potential members and turns on common questions about whether the company fulfilled its legal duties in monitoring plan investments and service provider fees, Byron said.

L3Harris didn’t oppose the workers’ ...