Univar Solutions Agrees to $1.1 Million 401(k) Fee Settlement

Univar Solutions USA Inc. will pay $1.1 million to settle a proposed class action by former employees who say their 401(k) plan charges high fees and offers risk target date funds.

The deal, announced Thursday in the US District Court for the Northern District of Illinois, is slated to benefit a proposed class of Univar plan participants and beneficiaries since 2016. More than 7,500 people participated in the plan as of 2020, according to court filings.

• The lawsuit says Univar, a chemical and ingredients distributor, mismanaged its $978 million plan by overpaying for administrative services and offering underperforming and ...