NextEra Energy Agrees to Class of Thousands in 401(k) Lawsuit

NextEra Energy Inc. agreed to have litigation over its 401(k) plan management certified as a class action covering thousands of people.

The parties’ proposed class covers all the NextEra plan’s participants and beneficiaries since September 2017. Thousands of people participated in the plan during this time period, they said in a stipulation filed Wednesday in the US District Court for the Southern District of Florida.

• The two-year-old lawsuit claims the company’s annual recordkeeping fees—allegedly between $47 and $65 per person—were excessive in violation of the Employee Retirement Income Security Act, and that the company mishandled the 401(k) contributions forfeited by ...