{"id":1601,"date":"2015-02-24T15:42:00","date_gmt":"2015-02-24T15:42:00","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/02\/401k_fees_in_the_spotlight_wit"},"modified":"2022-03-18T15:54:06","modified_gmt":"2022-03-18T20:54:06","slug":"401k-fees-in-the-spotlight-wit","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/401k-fees-in-the-spotlight-wit\/","title":{"rendered":"401K Fees in the Spotlight, With $62M Lockheed Settlement &#038; Edison Class Action Case Before the Supreme Court"},"content":{"rendered":"<p>Lockheed Martin Corp. has agreed to pay $62 million to settle a lawsuit accusing its employee 401(k) retirement plan of charging excessive fees to participants. As part of the settlement, the defense company will take part in monthly assessments of its plan, offer participants low-cost funds, and get bids from at least three outside companies that know how to deal with administrative matters involving big company retirement plans.<\/p>\n<p>There are 100,000 participants and $27 billion of assets in Lockheed&#8217;s retirement plan. The civil case accused the company of not acting wisely when managing the retirement savings of employees, charging high fund fees, keeping a significant quantity of participants&#8217; savings in low-yield funds, and paying record-keeping fees that were excessive.<\/p>\n<p>Lockheed denied the allegations. Even though it is settling, the company is not admitting wrongdoing.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/401k-fees-in-the-spotlight-wit\/\"  title=\"Continue Reading 401K Fees in the Spotlight, With $62M Lockheed Settlement &#038; Edison Class Action Case Before the Supreme Court\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Lockheed Martin Corp. has agreed to pay $62 million to settle a lawsuit accusing its employee 401(k) retirement plan of charging excessive fees to participants. As part of the settlement, the defense company will take part in monthly assessments of its plan, offer participants low-cost funds, and get bids from at least three outside companies [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3803],"tags":[3502],"class_list":["post-1601","post","type-post","status-publish","format-standard","hentry","category-senior-investors","tag-401ks"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>401K Fees in the Spotlight With $62M Lockheed Settlement | SSEK Law Firm<\/title>\n<meta name=\"description\" content=\"Lockheed Martin Corp. has agreed to pay $62 million to settle a lawsuit accusing its employee 401(k) retirement plan of charging excessive fees to &#8212; February 24, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/401k-fees-in-the-spotlight-wit\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"401K Fees in the Spotlight With $62M Lockheed Settlement | SSEK Law Firm\" \/>\n<meta name=\"twitter:description\" content=\"Lockheed Martin Corp. has agreed to pay $62 million to settle a lawsuit accusing its employee 401(k) retirement plan of charging excessive fees to &#8212; February 24, 2015\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"401K Fees in the Spotlight With $62M Lockheed Settlement | SSEK Law Firm","description":"Lockheed Martin Corp. has agreed to pay $62 million to settle a lawsuit accusing its employee 401(k) retirement plan of charging excessive fees to &#8212; February 24, 2015","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/401k-fees-in-the-spotlight-wit\/","twitter_card":"summary_large_image","twitter_title":"401K Fees in the Spotlight With $62M Lockheed Settlement | SSEK Law Firm","twitter_description":"Lockheed Martin Corp. has agreed to pay $62 million to settle a lawsuit accusing its employee 401(k) retirement plan of charging excessive fees to &#8212; February 24, 2015","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/401k-fees-in-the-spotlight-wit\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/401k-fees-in-the-spotlight-wit\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"401K Fees in the Spotlight, With $62M Lockheed Settlement &#038; Edison Class Action Case Before the Supreme Court","datePublished":"2015-02-24T15:42:00+00:00","dateModified":"2022-03-18T20:54:06+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/401k-fees-in-the-spotlight-wit\/"},"wordCount":535,"keywords":["401Ks"],"articleSection":["Senior Investors"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/401k-fees-in-the-spotlight-wit\/","url":"https:\/\/www.investorlawyers.com\/blog\/401k-fees-in-the-spotlight-wit\/","name":"401K Fees in the Spotlight With $62M Lockheed Settlement | SSEK Law Firm","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2015-02-24T15:42:00+00:00","dateModified":"2022-03-18T20:54:06+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"Lockheed Martin Corp. has agreed to pay $62 million to settle a lawsuit accusing its employee 401(k) retirement plan of charging excessive fees to &#8212; 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