Eversource Energy Cleared for $15 Million 401(k) Plan Settlement

Eversource Energy Service Co. and workers challenging the fees and actively managed target date funds in the company’s 401(k) plan secured final court approval for their $15 million class settlement.

The deal is expected to cover about 11,000 people who participated in the Eversource retirement plan since 2014. It represents about 72% of the reasonable damages the plan participants could expect to receive through the lawsuit, according their settlement motion.

Judge Janet C. Hall of the US District Court for the District of Connecticut granted final approval to the deal in an order docketed Wednesday. Hall also awarded $5 ...