99 Cents Only Stores have come to terms with an excessive fee suit involving their 401(k) plan for about $749,901.01 more than their name.
99 Cents Only was sued for 1) for breach of fiduciary duties of prudence and loyalty, and 2) for breach of fiduciary duties in violation of the duty to investigate and monitor investments and covered service providers.
That proposed settlement calls for a cash settlement of $750,000 for a plan that only had $76 million in assets.