Schneider Electric Workers Cleared for $200,000 Aon 401(k) Deal

Former Schneider Electric Holdings Inc. employees who challenged their 401(k) plan’s move into Aon funds won final court approval for a $200,000 class settlement.

The deal resolves claims challenging three Vanguard index funds in Schneider’s retirement plan. These claims—which Schneider didn’t address in its motion for summary judgment—were the only ones left standing after Judge Nathaniel M. Gorton‘s January decision ruling for the company and defendant Aon Hewitt Investment Consulting Inc. on all other issues.

Gorton granted final approval to the settlement, which is slated to benefit about 26,000 Schneider plan participants, in an order docketed Wednesday.

The 2020 ...