L3Harris Workers Get First OK for $650,000 Retirement Plan Deal

L3Harris Technologies Inc.'s $650,000 settlement with a class of employees challenging how the defense and aerospace contractor manages their retirement plan received initial court approval from a federal judge in Florida.

The deal represents about 22% of the employees’ highest estimated damages in connection with the plan’s allegedly excessive recordkeeping fees, according to the settlement motion. The amount reflects the company’s “strenuous arguments” that the workers suffered no damages with respect to the plan investments challenged by the case, according to the motion.

Judge Paul Byron of the US District Court for the Middle District of Florida signed the ...