Talen Energy, Workers Cleared for $20 Million Pension Settlement

Talen Energy Corp. secured final court approval for a $20 million class settlement resolving allegations that it shortchanged employee pensions following a corporate spin-off from PPL Corp.

The deal is expected to provide payments ranging between $4,000 and $365,759 to about 200 workers whose pension and personnel records show they were terminated by the company. Another group of 132 workers who weren’t terminated by the company stand to receive payments of $4,000 each, according to a settlement motion that estimated the “best possible outcome” for the class at about $48 million.

Judge Jeffrey L. Schmehl of the US District Court ...