Evergy, contractor agree to pay $2.6 million to settle class-action lawsuit
Evergy and SageView Advisory Group will pay $2.6 million to settle a class-action lawsuit regarding 401(k) fund management.Summary
Evergy and its contractor, SageView Advisory Group, have reached a preliminary settlement agreement to pay a total of $2.6 million to resolve a class-action lawsuit. Under the terms of the agreement, Evergy will contribute $1.7 million and SageView Advisory Group will pay $900,000.
The lawsuit was initiated in January 2025 by former employees Derick Doll, Catherine Fluegel, and Joseph Nagle, who alleged that Evergy failed to remove underperforming American Century Fund Target Date Funds from employee investment options. The class action, granted status by Missouri District Judge Stephen Bough in October 2025, covers current and former Evergy employees who invested in these specific funds starting in January 2019. A settlement administrator will be appointed, and a court hearing will be held for final approval.
(Source：Themercury)