CenterPoint Energy’s $800,000 Retirement Fee Pact Clears Hurdle

CenterPoint Energy Inc. secured initial approval for an $800,000 class settlement with workers who claimed the Texas utility company’s 401(k) plan charged excessive fees.

The agreement is expected to provide nearly 12,000 participants in the CenterPoint plan with about 22% of their best-case damages in the case. Judge George C. Hanks Jr. granted preliminary approval to the deal and scheduled a June 9, 2026, final settlement hearing in court minutes docketed Monday in the US District Court for the Southern District of Texas.

• The lawsuit accused CenterPoint of failing to rein in the administrative fees charged by its 401(k) plan, ...