TTEC Services Inks $750,000 Deal Over 401(k) Plan (Correct)

TTEC Services Corp. signed a $750,000 class settlement with workers challenging the customer service company’s 401(k) plan fees and investment options.

Workers praised the deal as providing thousands of plan participants and beneficiaries with a “substantial and prompt recovery” that’s preferable to a lengthy court battle. The workers’ potential damages at trial could have amounted to “substantially more” than the settlement amount, they acknowledged in a a Monday motion asking that the agreement receive preliminary court approval.

Hundreds of employers have been sued over their 401(k) fees, with recent settlements negotiated by Vituity for $8.75 million, Wesco Distribution Inc. ...