Taylor Corp. $485,000 Settlement Over 401(k) Fees Gets First OK

A $485,000 class settlement benefiting Taylor Corp. employees received preliminary court approval, paving the way for resolution of litigation challenging the Minnesota printing and marketing company’s retirement plan fees.

The agreement is slated to cover more than 12,000 plan participants and beneficiaries since February 2016, according to the settlement motion. Workers called the settlement amount fair given that they estimated their remaining claims carried maximum damages of about $5.1 million.

Judge Jeffrey M. Bryan of the US District Court for the District of Minnesota signed the preliminary approval order Wednesday. He also scheduled an Aug. 6 fairness hearing in ...