Boston’s PTC Settles Would-be Class Challenge to 401(k) Fees

Boston-based software company PTC Inc. reached a tentative deal to settle a proposed class action challenging the fees and investment options in its $450 million 401(k) plan, a federal court filing shows.

The company and a proposed class of 3,600 retirement plan participants are in the process of finalizing a deal to resolve the Employee Retirement Income Security Act lawsuit, according to an Oct. 1 status report filed in the U.S. District Court for the District of Massachusetts. They expect to file the deal for court approval by Dec. 1, according to the motion.

The parties say they reached an ...