PPL Workers Finalize $8.2 Million Retirement Fund Settlement

PPL Corp. workers who accused the utility company of filling their retirement plans with underperforming target-date funds received final approval for their $8.2 million class settlement.

The agreement covers all participants in four PPL retirement plans between 2016 and 2020 who invested in a Northern Trust Focus Fund, along with their beneficiaries. Judge Mia R. Perez signed the final approval order Monday after previously awarding class counsel more than $3.3 million in fees and expenses.

• The lawsuit centers on a suite of target-date funds from non-party Northern Trust, which PPL plan participants say were plagued by significant “quantitative deficiencies and ...