Evergy, contractor agree to pay $2.6 million to settle class-action lawsuit

Evergy and one of its contractors, SageView Advisory Group, will settle a class-action lawsuit for $2.6 million after the court gives final approval. The lawsuit was filed last year about the company's failure to remove underperforming funds from the company's 401(k) retirement plan. (Photo by Sherman Smith/Kansas Reflector)

TOPEKA — Evergy and one of its contractors agreed to pay $2.6 million to employees to settle  a class-action lawsuit filed over how company retirement funds were managed.

Evergy will pay $1.7 million and SageView Advisory Group, which contracted with Evergy to manage its 401(k) retirement plans, will pay $900,000, according to a preliminary settlement agreement filed Wednesday in the Western District Court of Missouri.

Former Evergy employees Derick Doll, Catherine Fluegel and Joseph Nagle filed the lawsuit in January 2025, alleging the company failed to remove American Century Fund Target Date Funds from employee investment options even though the company underperformed.

Missouri District Judge Stephen Bough gave the lawsuit class-action status in October 2025. The class action includes any former or current Evergy employee who invested in the American Century funds beginning in January 2019.

A settlement administrator will be appointed, and there will be a hearing to grant final settlement approval, court filings said.