🏦 Liberty Mutual 401(k) Plan ERISA Settlement

Excessive recordkeeping/administrative fees and imprudent investment options in the company 401(k) plan, alleged to violate ERISA fiduciary duties.

Participants/beneficiaries in the plan April 10, 2014 to Dec 31, 2025. Current Participants are paid automatically; Former Participants must file using their claim number/PIN.

Share of $13.4M net settlement fund, varies by account

2026-08-22

The underlying case, Ahmed et al. v. Liberty Mutual Group, Inc. (No. 3:20-cv-30056-MGM, D. Mass.), accuses the company of causing the 401(k) plan to pay excessive recordkeeping and administrative fees while retaining imprudent investment options. Liberty Mutual denies liability, maintaining in court filings that it acted prudently and in participants' best interests, and agreed instead to fund a $13,400,000 qualified settlement account to resolve the case. The settlement has already received preliminary court approval, and a fairness hearing is scheduled for September 2, 2026 (held via Zoom), after which the court will decide on final approval.