Norwegian Cruise Lines Inks $615,000 Deal Over 401(k) Plan Fees

Cruise company NCL Corp. Ltd. negotiated a $615,000 settlement with a proposed class of employees challenging the fees and investment options in its 401(k) plan.

The settlement is expected to benefit about 2,400 people covered by the NCL retirement plan between 2016 and 2023. The parties reached an agreement after a 12-hour mediation session that “lasted into the evening,” according to a settlement motion filed Sept. 1 in the US District Court for the Southern District of Florida.

The lawsuit, filed in September 2022 by NCL plan participant Grace Angelo, claims the plan offered overly expensive share classes of ...