Pactiv Evergreen Cleared for $725,000 Retirement Plan Class Deal

A $725,000 class settlement benefiting employees of Pactiv Evergreen Services Inc. received final approval, resolving a lawsuit challenging the administrative fees in the food and beverage maker’s 401(k) plan.

The agreement is expected to benefit about 12,000 people covered by Pactiv’s retirement plan since September 2016. The dollar figure represents about 22% of the plan participant’s estimated damages, according to the settlement motion.

• Judge Sara L. Ellis of the US District Court for the Northern District of Illinois granted final approval to the deal in an Oct. 18 order
• The lawsuit said Pactiv’s retirement plan charged excessive annual recordkeeping ...