Grocer Giant Eagle Settles 401(k) Fee Challenge in Pennsylvania

Pennsylvania-based grocery chain Giant Eagle Inc. agreed to pay $668,750 to settle a proposed class action by workers who say their retirement plan’s administrative fees are too high.

The deal would benefit more than 15,000 people covered by Giant Eagle’s plan since August 2018, according to a motion for preliminary settlement approval filed Thursday in the US District Court for the Western District of Pennsylvania. The agreement is an “excellent result” for the class, given that their maximum potential damages in the case were about $3 million, according to the filing.

• The lawsuit says the Giant Eagle plan paid excessive ...