401k Suit Settles for $27.5 million

Jun 1, 2015

Twenty-four thousand of Ameriprise Financial Inc.’s past and present employees have settled their case against Ameriprise for $27.5 million. The retirement plan participants claimed that they were charged excessive fees by Ameriprise. The participants alleged that Ameriprise failed to ensure reasonable fees for the administrative services provided. The settlement also states that Ameriprise will charge a flat administrative fee for each participant, incorporate more fee disclosures, and make efforts to find the most economical investment options.

To read more visit:

Wall Street Journal

Investment News


Submit a Comment

Your email address will not be published. Required fields are marked *