July 19, 2022
A Wisconsin federal judge gave his blessing to a $5.1 million deal to resolve a class action alleging Costco cost its retirees millions by allowing its $15.5 billion 401(k) plan to invest imprudently and pay unreasonably high administrative fees.
March 15, 2022
A Wisconsin federal judge was asked Monday to sign off on a $5.1 million deal that ends putative class claims against Costco alleging the wholesaler violated federal benefits law by mismanaging a $15.5 billion 401(k) plan with more than 250,000 participants and beneficiaries.
June 23, 2020
Costco Wholesale Corp. bungled its $15.5 billion 401(k) plan by authorizing excessive record-keeping fees and mismanaging the plan's investment portfolio in violation of the Employee Retirement Income Security Act, a Wisconsin man alleged in a proposed class action on Tuesday.