Safeway Settles Twin 401(k) Would-be Class Suits Ahead of Trial

Safeway Inc. settled two proposed class actions challenging its 401(k) plan two weeks before the cases were scheduled for trial.

The deal resolves two cases by current and former employees who challenged different aspects of the grocer’s $1.9 billion 401(k) plan. One challenges the JPMorgan target-date funds offered by the plan, while the other objects to the plan’s investments and fee structure more generally.

Settlement terms aren’t yet public and will be filed with the court in July, according to the parties’ April 23 notice of settlement.

The settlement doesn’t resolve one of the lawsuit’s pending claims against Aon Hewitt ...