C&T is investigating a potential class action lawsuit against CVS relating to potentially excessive and/or hidden fees charged to employees investing in target date funds within the company’s 401(k) plan. Reports indicate that certain funds offered through the CVS 401(k) plan – specifically Principal Lifetime 2010, 2020, 2030, 2040 and 2050 Separate Accounts; Principal Lifetime Strategic Income Separate Account; and Principal Stable Value Fund Common/Collective Trusts – may have assessed hidden, excessive, or otherwise unlawful fees which are being paid directly out of employee pockets. C&T is investigating whether employees affected by these practices may be entitled to relief.
If you or anyone you know is an employee of CVS and participates in the company’s 401(k) plan, please contact us using the link on this page.
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