Northrop Grumman Drained Retirement Savings, Workers Allege

Sept. 12, 2016, 4:16 PM

Northrop Grumman Corp. and its executives forced employees to pay nearly $10 million in excessive and largely unnecessary retirement plan fees that went directly to the defense contractor in violation of federal law, a new lawsuit alleges (Marshall v. Northrop Grumman Corp., C.D. Cal., No. 2:16-cv-06794, complaint filed 9/9/16).

The lawsuit, filed by seven former Northrop employees on behalf of a proposed class of more than 100,000, accuses the company of charging its workers between $1.7 million and $2.1 million per year in administrative fees associated with the company’s retirement plan, even though the plan was already paying...

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