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Novant Retirement Plus Plan Class Action 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:

The plaintiffs in this lawsuit allege that Novant Health, Inc. violated the Employee Retirement Income Security Act by breaching fiduciary duties.  Millions of dollars worth of excessive record-keeping and administrative services are among the claims that have lead Novant Health to settle for upwards of $32 million.  There are two settlement classes: former and current participants.  Only former participants must fill out a claim form to receive a settlement share.

Docket Number:

14-cv-00208

Company: Novant Health

Filing Deadline: September 12, 2016

Class Period: October 1, 1998 to September 30, 2015

Objection Deadline: August 24, 2016

Final Approval Hearing: September 23, 2015

Proof of Purchase: Eligibility:

All current and former participants and beneficiaries who participated in any of the following retirement plants between October 1, 1998 and September 30, 2015:

  • The Savings and Supplemental Retirement Plan of Novant Health, Inc. and the Tax Deferred Savings Plan of Novant Health, Inc. ("The Retirement Plus Plan")
  • The Franklin/Upstate 401(k) Plan
  • The Presbyterian Women's Care Corp. 401(k) Plan
  • The Lakeside/Q-Neck 401(K) Plan
  • The 457(b) Retirement Plan of Novant Health, Inc.
  • The Retirement Plus Plan Wrap Nonqualified 457(b)/457(f) Plan of Novant Health, Inc.
Typical Settlement Amount:

The settlement shares distribution will be divided among class members. The shares will be based upon the class members' modified average account balance.

Total Settlement Amount: $32,000,000

Class Representative Proposed Incentive Fee:

$25,000

Law Firm:
Schlichter Bogard & Denton

Claim Form: Former Participant Claim Form

Case Name: Karolyn Kruger M.D., et. al. v. Novant Health, Inc., et al.

Settlement Website: Novant 401k Settlement

Claims Administrator:

Claims Administrator Contact Information:

Novant 401(k) Settlement Administrator P.O. Box 2002 Chanhassen, MN 55317-2002

 (855) 720-1156

Tags: ERISA Violations, Employment Violations