Southwest Research Completes $500,000 Pension Cost Settlement

Southwest Research Institute has received final court approval for a $500,000 settlement with employees who allege the San Antonio technology researcher mismanaged their $1.5 billion 401(k) plan.

The agreement is expected to benefit about 7,840 people covered by Southwest’s pension plan between June 2017 and March 2024. It represents about 5% of the employees’ estimated losses and requires Southwest to hire an independent consultant to monitor investments in the pension plan, according to a settlement proposal filed in the U.S. District Court for the Western District of Texas.