Boeing has agreed to pay $57 million to settle a lawsuit that accused it of charging excessive fees and choosing higher-cost investment offerings for the workers and retirees who participate in its 401(k) retirement plan, the New York Times reported today. The amount of the settlement, tentatively reached in August on the eve of a trial, was disclosed yesterday, and the two sides have asked a federal judge in Illinois for approval. With the settlement, nine large American companies have paid a combined $271.5 million over class-action lawsuits brought on behalf of workers by a St. Louis lawyer who has pushed major corporations for more accountability in the retirement plans they offer. Other companies that have settled include Ameriprise Financial, Cigna and Kraft Foods.
