Hartford Life Settles 401(k) Class Action Lawsuit

By Sarah Mirando | April 5, 2010

Category: Legal News

Hartford

Hartford Life Settles 401(k) Class Action Lawsuit

By Sarah Pierce

Hartford Life Insurance Company has agreed to settle a class action lawsuit involving their alleged mishandling of 401(k) plans. Hartford has agreed to pay nearly $13.8 million to people who used certain Hartford administrative services for their retirement plans between November 2003 and March 2010.

The class action lawsuit, filed by Phones Plus, Inc. on behalf of the company’s retirement plan holders, claims Hartford violated the federal statute governing retirement plans and breached their fiduciary duty by receiving revenue-sharing payments from mutual funds. According to DailyFinance.com, “Revenue-sharing payments are widely considered to be kickbacks paid by fund families to 401(k) plan administrators. In exchange for these payments, the fund’s adviser or record keeper agrees to include the funds among the investment options available to plan participants.”

If you are a current or former trustee, sponsor, fiduciary or administrator of an employee pension benefit plan that used Hartford services, you may be entitled to this class action settlement. The final approval hearing is June 10, 2010. You have until June 1 to exclude yourself and June 29 to submit your Instruction Form. More information can be found at www.hartfordretirementplansettlement.com.

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Updated April 5th, 2010

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4 thoughts onHartford Life Settles 401(k) Class Action Lawsuit

Sallie DUNLAP says:

January 28, 2020 at 10:41 am

I was denied saying the money ran out when there’s no way I even paid into the 401

Reply
William from New York says:

November 5, 2015 at 12:45 pm

In 2007 I was sold a disability insurance at work. The monthly payments were automatically reduced from my paycheck. in 2008 I Got hurt on the job and as a result I needed surgery. Due to surgery I had to take off a few months. I submitted the paperwork to Hartford Life Insurance, the Insurance company’s Representative was nice when taking my disability application and at the same time she became friendly on a personal level, telling me that she once lived in NYC, but when I called back to find out about my benefits, she told me that my case was denied, because the doctor was contacted and failed to respond to Hartford Life Insurance request to confirm my disability. I made all attempts to provide all documentation requested by the insurance company, but they had their mind set and the final decision remained as denied. I proceed to take Hartford Life Insurance to court, which their Attorneys, Rivkin Radler had drag on since 2008, but I had found a couple of co-workers that had also had their cases denied and we are looking into a class action lawsuit on disability benefits. If anyone can assist me on the class action process or wants to join the class action lawsuit on disability benefits. Please feel free to add your experience

Reply
Sharon M. Williams says:

June 17, 2015 at 9:16 am

I wasn’t aware of this class action suit. Is it too late to become a part of the suit? Employee with Hartford 2004 (after Hartford purchase disability line from CNA) through July 2012 and participated in 401K plan with the Hartford.

Reply
floyd morgan says:

May 28, 2014 at 4:04 pm

yes i was transfured from cna ins, to the hartford ins, co. i thank this miss is a fraud.

Reply

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Sallie DUNLAP says:

January 28, 2020 at 10:41 am

I was denied saying the money ran out when there’s no way I even paid into the 401

Reply
William from New York says:

November 5, 2015 at 12:45 pm

In 2007 I was sold a disability insurance at work. The monthly payments were automatically reduced from my paycheck. in 2008 I Got hurt on the job and as a result I needed surgery. Due to surgery I had to take off a few months. I submitted the paperwork to Hartford Life Insurance, the Insurance company’s Representative was nice when taking my disability application and at the same time she became friendly on a personal level, telling me that she once lived in NYC, but when I called back to find out about my benefits, she told me that my case was denied, because the doctor was contacted and failed to respond to Hartford Life Insurance request to confirm my disability. I made all attempts to provide all documentation requested by the insurance company, but they had their mind set and the final decision remained as denied. I proceed to take Hartford Life Insurance to court, which their Attorneys, Rivkin Radler had drag on since 2008, but I had found a couple of co-workers that had also had their cases denied and we are looking into a class action lawsuit on disability benefits. If anyone can assist me on the class action process or wants to join the class action lawsuit on disability benefits. Please feel free to add your experience

Reply
Sharon M. Williams says:

June 17, 2015 at 9:16 am

I wasn’t aware of this class action suit. Is it too late to become a part of the suit? Employee with Hartford 2004 (after Hartford purchase disability line from CNA) through July 2012 and participated in 401K plan with the Hartford.

Reply
floyd morgan says:

May 28, 2014 at 4:04 pm

yes i was transfured from cna ins, to the hartford ins, co. i thank this miss is a fraud.

Reply