Salesforce's $1.35 Million 401(k) Fee Accord Gets Final Approval

Salesforce Inc. workers received final court approval for a $1.35 million class settlement aimed at resolving claims over the software company’s 401(k) plan fees and investment offerings.

The agreement resolves a class action filed in 2020 over the investment lineup of the 50,000-person Salesforce retirement plan, along with a second lawsuit filed in 2024 that specifically challenges the plan’s target date funds. The settlement amount represents about 13.5% of the plaintiffs’ maximum estimated damages of $10 million, according to court filings announcing the deal.

https://news.bloomberglaw.com/us-law-week/salesforces-1-35-million-401k-fee-accord-gets-final-approval