Boeing

A class action lawsuit has been filed against the airline for allegedly failing to adequately monitor and disclose revenue sharing fees for its $23.7 billion 401K plan. The lawsuit claims Boeing breached its fiduciary duties under the Employee Retirement Income Security Act by ignoring payments that 401K managers made to record keepers and other service providers and failing to disclose the fees to plan participants. The suit also alleges Boeing charged excessive management fees for the employer stock fund option and held too much of the stock fund's assets in cash, thus reducing participants' returns.