Yale New Haven Hospital ERISA $1M class action settlement

Yale New Haven Hospital agreed to a $1 million class action lawsuit settlement to resolve claims that it mismanaged its retirement funds in violation of the Employee Retirement Income Security Act (ERISA).

The settlement benefits current and former participants, beneficiaries and alternate payees of the Yale New Haven Hospital and Tax Exempt Affiliates Tax Sheltered Annuity Plan between Jan. 21, 2016, and Dec. 11, 2023.

According to the class action lawsuit, Yale New Haven Hospital selected high-cost, poorly performing investments, passed high expenses onto participants and lost retirement funds on their behalf. Plaintiffs in the case claim the hospital breached its fiduciary duties under ERISA.

Yale New Haven Hospital is a teaching and research hospital system with locations in Connecticut, New York and Rhode Island.

Yale New Haven Hospital hasn’t admitted wrongdoing but agreed to a $1 million settlement to resolve the ERISA class action lawsuit.

Under the terms of the settlement, class members can receive a cash payment based on their year-end account balances during the class period. Class members with larger year-end account balances will receive a larger share of the net settlement fund.

The deadline for objection is April 28, 2024.

The final approval hearing for the settlement is scheduled for May 28, 2024.

Current participants, beneficiaries and alternate payees do not need to file a claim to receive a settlement payment deposited into their accounts. 

Former participants, beneficiaries and alternate payees must submit a valid claim form by April 9, 2024, to receive a settlement payment.

Who’s Eligible

Current and former participants, beneficiaries and alternate payees of the Yale New Haven Hospital and Tax Exempt Affiliates Tax Sheltered Annuity Plan between Jan. 21, 2016, and Dec. 11, 2023.

Potential Award

Varies

Proof of Purchase

No documentation is required for current participants.

Beneficiaries (executors, heirs, assigns, estates, personal representatives, or successors-in-interest) of deceased class members must provide a former participant claim form, a death certificate and evidence that such person is authorized to receive the class member’s payment and the name and percentage of distribution each person is entitled to; the Social Security number and current mailing address of each person entitled to receive a distribution; the person to whom the check should be made payable and the amount of the check.

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

04/09/2024

Case Name

Ruilova, et al. v. Yale New Haven Hospital Inc., et al., Case No. 3:22-cv-00111-MPS, in the U.S. District Court for the District of Connecticut

Final Hearing

05/28/2024

Settlement Website

StrategicClaims.net/YNHH403b/

Claims Administrator

Yale New Haven Hospital 403b Settlement Administrator
c/o Strategic Claims Services
600 N Jackson Suite 205
Media, PA 19063
866-274-4004

Class Counsel

Laurie Rubinow
Alec J Berin
MILLER SHAH LLP

Defense Counsel

William J Delany
Michael J Prame
Richard A Smith Jr
GROOM LAW GROUP CHARTERED