A $2.9 million settlement between Time Warner Inc., New York, and participants of its $2.2 billion Defined Benefit Master Trust Fund pension plan was approved today by U.S. District Court Judge Denise Cote in New York. The preliminary settlement was reached late last year. The class-action lawsuit, filed in January 2003 on behalf of about 10,000 of Time Warner's pension plan participants, accused the company of miscalculating its pension obligation payments and underpaying them. Time Warner did not admit to any wrongdoing in the settlement. Susan Duffy, a Time Warner spokeswoman, confirmed the settlement but was unable to comment on it before press time.