Revamped Class Settlement Over Union Benefits Gets Judge’s Nod

Former Parsec Inc. employees secured preliminary court approval for their revamped $615,000 class settlement in a lawsuit against their former union’s benefit plans.

The deal is aimed at resolving allegations that two National Production Workers Union severance and 401(k) plans are legally deficient because they don’t allow benefits to be distributed when workers vote to change their union membership, as the intermodal transport company’s workers did in favor of a Teamsters local union in 2017. Workers also said the plans improperly gave insiders hefty raises, and that they were wrongly denied certain plan documents.

• Judge John Robert Blakey of the ...