Trader Joe’s 401(k) Fee, Forfeiture Suit Advances as Trial Looms

A class action challenging how Trader Joe’s Co. manages its retirement plan is barreling toward trial after a federal judge denied the retailer’s bid for victory on key claims.

Judge William G. Young declined to issue a summary judgment opinion upholding the company’s 401(k) plan fee levels and investment options, adding that he’s still considering whether it appropriately handled 401(k) forfeitures. Young announced his decision during a Tuesday conference in the US District Court for the District of Massachusetts, less than a week before the parties are scheduled to begin an eight-day, judge-only trial in his courtroom.

If the case ...