Insperity 401(k) Retirement Plan Settlement

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 a class action against Reliance Trust Company, Insperity, Inc., Insperity Holdings, Inc., and Insperity Retirement Services, LP, claiming they violated ERISA in their operation and administration of the Insperity 401(k) Plan. The lawsuit alleged the companies caused the plan to pay too much for administrative and investment services, and also that they unlawfully invested in the Insperity Horizon Risk-Managed target date funds.

Docket Number:


Company: Reliance Trust Company

Filing Deadline: March 4, 2021

Class Period: December 22, 2009 to March 31, 2019

Objection Deadline: February 3, 2021

Final Approval Hearing: March 5, 2021

Proof of Purchase:

No. Presumably plan records will be used for verification.


You may be included if you are the beneficiary of a deceased person who participated in the plan during that period or an Alternate Payee of a person subject to a Qualified Domestic Relations Order who participated in the plan at any time during that period.

You are a current participant if you still have an account with a balance of more than $0 in the plan. You are a former participant if you no longer had an account balance greater than $0 as of September 30, 2020.

Typical Settlement Amount:

Current participants: distributions will be made into current plan accounts. Former participants: distributions will receive a check mailed to their last known address or, if preferred, a rollover to a qualified retirement account.

The net settlement fund will be distributed to class members according to a plan of allocation. It will be divided into two portions, with 90% going to the Insperity Horizon Risk-Managed Funds portion and 10% going to the Administrative and Investment Fee portion. For further details, see the Notice at https://insperity401kplansettlement.com/wp-content/uploads/2020/12/Current-Participant-Notice.pdf.

Total Settlement Amount: $39,800,000

Class Representative Proposed Incentive Fee:


Law Firm:
Schlichter Bogard & Denton

Claim Form: Insperity 401(k) Retirement Plan Settlement Former Participant Claim Form

Case Name: Pledger, et al., v. Reliance Trust, et al.

Settlement Website: Insperity 401(k) Retirement Plan Settlement Website

Claims Administrator:
Analytics LLC

Claims Administrator Contact Information:

The Insperity 401(k) Plan Settlement Administrator
P.O. Box 2007
Chanhassen, MN 55317-2007

Tags: Excessive Fees, Investments, Retirement Plan Mismanagement, Retirement Plans