Settlement Status

  • The lawsuit alleges that Defendants, as fiduciaries to the Plan, violated the Employee Retirement Income Security Act (“ERISA”) by failing to prudently manage the Plan’s assets and control its costs, including by paying higher than necessary recordkeeping fees to the Plan’s recordkeepers. Defendants deny any wrongdoing and maintain that they did not violate any laws. The Court has not decided who is right or wrong.
  • If you are a Current Participant in the TIP Plan as of the date of distribution of the Settlement Payments, any payment will be made to you automatically by direct deposit to your account in the TIP Plan. If you are a Former Participant of the Plan you have the option to either roll over your payment to another tax-qualified retirement account or receive your payment in the mail by check payable to you or a successor qualified retirement account. If you prefer the former option, you must submit a Rollover Form on or before June 15, 2022. If the Settlement Administrator does not receive a Rollover Form by this date, your allocation will be paid to you by a check mailed to your last known address.
  • Please review your Class Notice for a complete explanation of your rights and options in this settlement.