A class action challenging the fees and investment options in Insperity Inc.'s $2 billion 401(k) plan will be resolved through a settlement between participants and plan trustee Reliance Trust Co., according to an order by a federal judge in Atlanta.
Reliance and the plan participants have settled all pending claims in the five-year-old Employee Retirement Income Security Act lawsuit, Judge Mark H. Cohen said in a Monday order administratively closing the case. His one-paragraph order, which doesn’t mention the Insperity defendants, gives the parties three weeks to file formal settlement papers.
The settlement comes six months after the parties completed ...