Settlement Status

  • A Settlement has been reached in a class action lawsuit against JPMorgan Chase Bank, National Association, JPMorgan Chase & Company, and several committees and current and former employees and officers (collectively, “JPMorgan”). The class action lawsuit involves whether JPMorgan complied with its fiduciary duties under the Employee Retirement Income Security Act of 1974 (“ERISA”) in managing the Plan.
  • You are included as a Class Member if you are or were a Plan participant at any time from January 25, 2011 to the date on which the Settlement is finally approved by the Court (the “Class Period”) and your individual account was invested in one or more of the following funds: the Growth and Income Fund; the Mid Cap Value Fund; the Mid Cap Growth Fund; the Small Cap Core Fund, but only if the investment occurred before December 19, 2015; the Core Bond Fund, but only if the investment occurred before March 12, 2016; and any of the Target Date Funds, but only if the investment occurred before April 1, 2016 (the “Disputed Investments”).
  • JPMorgan has agreed to pay $9,000,000.00 into a settlement fund. Class Members are eligible to receive a pro rata share of the Net Settlement Fund, which is the amount in the settlement fund remaining after payment of administrative expenses, taxes, tax expenses, any attorneys’ fees and expenses that the Court awards to Plaintiffs’ lawyers, and any incentive awards to Plaintiffs. The amount of each Class Member’s payment is based on a Plan of Allocation that takes into account each Class Member’s investment in the Disputed Investments. Payments to current Plan participants will be deposited into their respective Plan accounts. Payments to former Plan participants will be made directly to former Plan participants by check, or former Plan participants can instead elect to receive their payment through a rollover to a qualified retirement account.