ADP Settles 50,000-Person 401(k) Fee Class Suit Ahead of Trial

Automatic Data Processing Inc. is finalizing a class-wide settlement in a lawsuit challenging the fees associated with a retirement plan covering thousands of employees of companies that contract with the human resources provider.

The parties agreed to a settlement amount and are working toward an agreement on “non-monetary” aspects of the deal, they said in a Monday letter to Magistrate Judge Jose R. Almonte. They asked for a month-long pause in case deadlines so they can finish negotiations and prepare paperwork to have the deal approved by the US District Court for the District of New Jersey.

• The 50,000-person ...