PPL Workers Get First OK for $8.2 Million Retirement Fund Accord

PPL Corp. workers’ $8.2 million class settlement received initial court approval, paving the way for resolution of their lawsuit challenging the Northern Trust target date funds in the utility company’s retirement plans.

The deal covers all participants in four PPL retirement plans between 2016 and 2020 who invested in a Northern Trust Focus Fund, along with their beneficiaries. The parties came to an agreement one week before the case was scheduled to go to trial in January, according to court filings announcing the deal.

Judge Mia R. Perez granted preliminary approval to the deal and scheduled an August 4 fairness ...