Walgreens Workers Say Botched Retirement Plan Lost $300M

Law360 (August 9, 2019, 3:52 PM EDT) -- Walgreens workers said Friday in a proposed class action that they've lost nearly $300 million in retirement savings because the company has failed to remove a suite of underperforming funds from its plan.

In an Illinois federal court suit filed on behalf of current and former workers who are beneficiaries of the plan, the proposed class says Walgreen Co. loaded its profit-sharing retirement plan with a group of poorly performing target-date retirement funds in 2013 and has refused to remove them "despite a market teeming with better-performing alternatives."

That has caused the plan's participants to lose out on nearly $300 million...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!