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Lockheed Martin to Pay $62M Over 401(k) Litigation

Saturday, Feb 28 2015
Regulatory & Compliance
Written by  PFA News

Defense contractor Lockheed Martin will pay $62 million to settle litigation that claimed the company concealed excessively high fees in its retirement plan to the detriment of employees. So reports Reuters.

Lockheed will deposit the money into retirement plan members’ accounts or mail checks to former employees while also taking steps to minimize future plan fees.

Read the full article from Reuters.

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