Taylor Corp. Settles Retirement Plan Fee Lawsuit for $485,000

Minnesota printing and marketing company Taylor Corp. signed a $485,000 class settlement with workers challenging the fees tied to its 401(k) plan.

More than 12,000 plan participants and beneficiaries since February 2016 are expected to benefit under the deal, according to the workers’ April 5 motion. The settlement amount is fair given that the workers estimated their remaining claims carried maximum damages of about $5.1 million, they said in the motion.

The lawsuit says Taylor’s retirement plan charged excessive fees and offered overly expensive investment options. Taylor used the same plan recordkeeper since at least 2016, and at least ...