Boeing To Pay $57M To End Suit Over Retirement Plan Fees

Law360, Washington (November 5, 2015, 4:10 PM EST) -- Boeing has agreed to pay $57 million to settle a class action claiming it allowed a retirement plan to charge excessive fees to employees of the aerospace giant, according to an agreement submitted in federal court Thursday.

If approved by an Illinois federal court early next year, the settlement will create a fund through which the company will distribute compensation to a class of 401(k) plan participants and pay their legal costs.

Boeing does not admit any liability in the settlement, which would end a nine-year...
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