$2M Whole Foods Settlement Ends Class Action Lawsuit Over Alleged Mishandling of 401(k) Plan Fees

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A $2 million class action settlement will resolve litigation that alleged Whole Foods and several related entities charged excessively high recordkeeping and administration fees for the high-end grocer’s Growing Your Future 401(k) Plan.

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The Whole Foods class action settlement received preliminary court approval on July 24, 2025 and covers all participants in and beneficiaries or alternate payees of a Whole Foods Market Grow Your Future 401(k) Plan with an account balance between November 6, 2017 and July 24, 2025.

The court-approved website for the Whole Foods settlement can be found at 401kPlanERISASettlement.com.

Whole Foods settlement class members who are current participants in, or beneficiaries or alternate payees of, a Grow Your Future 401(k) Plan do not need to do anything to receive a pro rata, or equal share, payment from the $2 million settlement fund.

However, class members who no longer have an active Grow Your Future 401(k) account must submit a timely, valid claim form in order to receive payment from the deal, the settlement website relays.

To submit a claim form online, class members can visit this page and log in with the unique claim number and PIN found in their copy of the settlement notice.

Alternatively, a PDF of the claim form is available to print, fill out and mail back to the address listed on the first page of the form.

All claim forms must be submitted online or postmarked no later than November 21, 2025.

A hearing is scheduled for January 15, 2026 to determine whether the settlement will receive final approval from the court. Payments will begin to be distributed to class members only after final approval has been granted and any appeals have been resolved.

The Whole Foods class action lawsuit alleged that the company, its board of directors, employer committee and retirement plan committee breached their duties as fiduciaries by charging 401(k) plan holders higher-than-necessary recordkeeping and administration fees, given the more than $1 billion total assets managed by the plan. The case alleges Whole Foods violated ERISA, the federal law that governs most retirement plans in the United States.

Did you know that some class action settlements require no proof to submit a claim? Check out the latest open class action settlements.