Settlement Structure: Claims Made
Active: Closed
Closed Settlement Statement:
According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.
Case Summary:This settlement resolves two consolidated class actions against the Trustees of Columbia University in the City of New York about the management, operation, and administration of the university’s 403(b) plans, including the Retirement Plan for Officers of Columbia University and the Columbia University Voluntary Retirement Savings Plan. The complaint alleged violations of the Employee Retirement Income Security Act of 1974 (ERISA) because those responsible for the plans had permitted excessive fees and imprudent investments.
Docket Number:16-6524
Company: Trustees of Columbia University in the City of New York
Filing Deadline: September 28, 2021
Class Period: August 10, 2010 to March 31, 2021
Objection Deadline: September 12, 2021
Final Approval Hearing: October 12, 2021
Proof of Purchase:If you are a current participant in either of the plans, you do not need to do anything to receive your payment. If you are Former Participant, of the beneficiary, alternate payee, or attorney-in-fact of a Former Participant, you must submit a claim form.
Eligibility:You may be eligible if you were a participant or beneficiary of the Retirement Plan for Officers of Columbia University or the Columbia University Voluntary Retirement Savings Plan between August 10, 2010 and March 31, 2021.
Current Participants are those who had a plan account during the class period above with a balance greater than $0 as of March 31, 2021. Former Participants are those who had a plan account during the class period above but who did not have a balance greater than $0 as of March 31, 2021. The beneficiaries, alternate payees, and attorneys-in-fact of Former Participants will also be treated as Former Participants.
Typical Settlement Amount:Share of the Net Settlement Fund, according to a plan of allocation based on plan records. Shares that amount to less than $10 will not be distributed, as the costs of doing so would exceed that amount.
Total Settlement Amount: $13,000,000
Class Representative Proposed Incentive Fee:$25,000 each
Law Firm:
Schlichter Bogard & Denton
Claim Form: Columbia University 403(b) Plan Settlement Former Participant Claim Form
Case Name: Cates, et. al. v. Trustees of Columbia University in the City of New York
Settlement Website: Columbia University 403(b) Plan Settlement Website
Claims Administrator:
Angeion Group
Columbia University 403(b) Settlement Administrator,
1650 Arch St. Suite 2210,
Philadelphia, PA 19103
844-292-2217