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This settlement is closed!
Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory!
Beth Israel Deaconess Medical Center agreed to pay $2.9 million to resolve claims that it mismanaged its employee 401(k) plan.
The settlement benefits current and former participants, beneficiaries and alternate payees of the Beth Israel Deaconess Medical Center 401(k) Savings and Investment Plan and Voluntary 403(b) Plan from Jan. 18, 2016, to May 5, 2023.
According to the class action lawsuit, the hospital breached its fiduciary duties under the Employee Retirement Income Security Act (ERISA) by investing in high-cost and poorly performing investments instead of better-performing alternatives. These actions allegedly caused plan participants to lose money.
Beth Israel is a hospital in Boston. The medical center is a Harvard Medical School Teaching Hospital.Â
Beth Israel hasn’t admitted any wrongdoing but agreed to a $2.9 million settlement to resolve the 401(k) class action lawsuit.
Under the terms of the settlement, class members will receive at least $10. Exact payment amounts will vary depending on each claimant’s year-end account balances during the class period. No payment estimates are available at this time.
The deadline for exclusion and objection is Aug. 23, 2023.
The final approval hearing for the class action lawsuit settlement is scheduled for Sept. 22, 2023.
Current participants, beneficiaries and alternate payees do not have to submit a claim with the settlement if they have an active plan account.Â
Former participants, beneficiaries and alternative payees must submit a valid claim form by Sept. 5, 2023, if they want to receive a settlement payment.
Who’s Eligible
Current and former participants, beneficiaries and alternate payees of the Beth Israel Deaconess Medical Center 401(k) Savings and Investment Plan and the Beth Israel Deaconess Medical Center Voluntary 403(b) Plan from Jan. 18, 2016, to May 5, 2023
Potential Award
Varies
Proof of Purchase
N/A
Claim Form
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
Claim Form Deadline
09/05/2023
Case Name
Clark, et al. v. Beth Israel Deaconess Medical Center, et al., Case No. 1:22-cv-10068-DPW, in the U.S. District Court for the District of Massachusetts
Final Hearing
09/22/2023
Settlement Website
Claims Administrator
Beth Israel 401k and 403b Settlement Administrator
c/o Strategic Claims Services
600 North Jackson Street, Suite 205
Media, PA 19063
info@strategicclaims.net
866-274-4004
Class Counsel
Laurie Rubinow
Alec J Berin
MILLER SHAH LLP
Defense Counsel
Deborah S Davidson
MORGAN LEWIS & BOCKIUS LLP
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