TTEC Services 401(k) Fee, Fund Challenge Heads Toward Settlement

Colorado customer service company TTEC Services Corp. will settle a proposed class action challenging its 401(k) plan’s fees and investment options.

The parties announced they’d reached a settlement in principle in email communications with the court, according to an electronic docket entry issued Wednesday in the US District Court for the District of Colorado. No details about the agreement were immediately available, and Judge Charlotte N. Sweeney instructed the parties to file a formal notice of settlement with the court.

The lawsuit says TTEC improperly allowed its 401(k) recordkeeper to charge excessive fees and add its own proprietary funds to ...