Service Corp. Settles 401(k) Plan Fee Challenge for $2 Million

Service Corp. International signed a $2 million class settlement with workers challenging the fees and investment options in the funeral and cemetery services company’s 401(k) plan.

The proposed deal, announced April 17, would resolve a 23,000-person class action accusing Service Corp. of failing to rein in administrative fee levels in its 401(k) plan while offering funds in high-cost retail share classes. Plaintiffs say the settlement amount represents more than 20% of their estimated losses in the case.

• The deal is subject to approval from Judge Charles Eskridge of the US District Court for the Southern District of Texas
• Eskridge ...