Shoe Show Signs $330,000 Class Deal in Suit Over Modest 401(k)

North Carolina retailer Shoe Show Inc. will pay $330,000 to resolve a proposed class action challenging the administrative fees in its $40 million 401(k) plan, a federal court filing shows.

The deal, announced Thursday in the US District Court for the Middle District of North Carolina, is expected to cover about 5,000 people who received retirement benefits through Shoe Show’s plan. It resolves allegations that the plan’s annual record keeping fees—allegedly $219 per person—were excessive in violation of the Employee Retirement Income Security Act.

The deal is subject to approval by Judge William L. Osteen Jr., who in February ...