Mitre, Workers to Settle Lawsuit Over Retirement Plan Fees

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Mitre Corp. plans to settle a 12,000-person class action by workers who challenged the fees and investment options in the nonprofit research and development organization’s retirement plans.

The parties are working on a written settlement agreement and plan to submit it for court approval by July 22, they said in a Thursday court filing. The filing didn’t include details about the terms of their agreement.

The lawsuit says Mitre mismanaged its retirement plans by requiring participants to pay annual recordkeeping fees that ranged between $60 and $220 per person, when a reasonable annual fee would have been closer to …