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Talen Energy Pays $20 Million to Settle Lawsuit

Talen Energy Settles $20 Million Lawsuit Over Retirement Plan Violations

Employees to Receive Compensation for Reduced Benefits

Accordig to TheSuns, Talen Energy, a leading provider of power and infrastructure solutions, has agreed to settle a lawsuit for $20 million. The lawsuit alleged that the company failed to comply with regulations governing its employee retirement plans. Despite maintaining its innocence, Talen Energy has chosen to settle the matter to avoid further litigation and potential consequences.

The lawsuit was about how the company treated employees who left their jobs. The company reduced their retirement benefits without telling them first. The settlement will give money to about 200 employees who left their jobs between 2015 and 2019. The amount of money each person gets will depend on their job and how long they worked.

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Talen Energy Pays $20 Million to Settle Lawsuit (PHOTO: GOOGLE)

Class-Action Settlement: Talen Energy Pays $20 Million to Settle Retirement Plan Dispute

Employees don’t need to fill out a form to get their money, but they do need to tell the company by July 1, 2024, if they want to put their money into an existing retirement account. This settlement is an example of a “class-action” lawsuit, where many people work together to solve a problem with a company that didn’t follow the rules.

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