Knight-Swift Transportation Holdings Inc., the nation’s largest full truckload company, has agreed to settle a massive 23,500-member class action accusing it of draining retirement savings through excessive fees tied to its $432 million retirement plan.
The case—spearheaded by workers Robert Hagins and Tommie Woodard—was filed in 2022 and gained class certification in March. A notice filed Monday in Arizona federal court confirmed the parties had reached a settlement in principle, with a request for preliminary approval expected by Oct. 24.
The Heart of the Robert Hagins Workers Suit
The lawsuit alleged that Knight-Swift let plan participants be gouged with $200 in annual fees, while comparable retirement plans charged an average of just $25. Workers also claimed the trucking giant loaded the plan with expensive share classes despite cheaper, identical alternatives—without delivering better returns.
If approved, the settlement would close a high-profile ERISA case that questioned whether Knight-Swift’s retirement plan management violated federal benefits law.
