Northrop Grumman Corp.

A class action lawsuit has been filed against the defense contractor for allegedly charging fees and expenses to its 401K plan that were unreasonable and did not benefit workers. The lawsuit was filed on behalf of 2,600 current employees and hundreds of former employees who were employed at Northrop Grumman's Airborne Early Warning and Electronic Warfare Systems unit in Bethpage and Grumman Corp. on Long Island. Northrop Grumman allegedly breached its fiduciary duty and failed to fulfill its duty to make certain the 401K plan operates with appropriate expenses. The suit claims the Northrop Grumman plan is filled with shadow index funds that collect much higher fees than managed funds.

Posted by
North Carolina
on March 15, 2013

I complain that Alside Window employed me 15 years and arbitrarily and capriciously excluded me from their 401(K) plan. By employing me through staffing agencies and tempary employment services.