PPL Corp. signed an $8.2 million class settlement with workers challenging the Northern Trust target date funds in the publicly traded utility company’s retirement plans.
The proposed deal would cover all participants in four PPL retirement plans between 2016 and 2020 who invested in a Northern Trust Focus Fund, along with their beneficiaries. The parties came to an agreement one week before the case was scheduled to go to trial in January, according to a motion for preliminary settlement approval filed Feb. 28 in the US District Court for the Eastern District of Pennsylvania.
The lawsuit centers on a suite …