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<a href="http://www.ge401ksettlement.com/"><span>Home</span> </a>
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<a href="http://www.ge401ksettlement.com/Settlement-Information"><span>Settlement Information</span> </a>
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<a href="http://www.ge401ksettlement.com/About-Class-Counsel"><span>About Class Counsel</span> </a>
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<h1>GE 401 (k) Plan Settlement</h1>
<h2 style="color:#fff;"><em>In re GE ERISA Litigation<br>Master File No. 1:17-cv-12123-IT</em></h2>
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<a class="btnHero" href="https://ge401ksettlement.com/Settlement-Information">Read More</a>
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<h3>Important Court Ordered Notice</h3>
<p>This is a certified class action on behalf of all participants in GE’s 401(k) Plan, a/k/a the GE Retirement Savings Plan and its predecessor the GE Savings and Security Program, as well as participants whose accounts were
transferred from the GE Retirement Savings Plan and merged into a successor plan created in connection with the spinoff of a GE company (the “Plan”), who invested in the GE Funds between September 26, 2011 to August 3, 2023 (the
“Class Period”), and on behalf of the Plan, alleging breach of fiduciary duties of loyalty and prudence and prohibited transactions in violation of the Employee Retirement Income Security Act of 1974, 29 U.S.C. §1001, et seq.
(“ERISA”).</p>
<p>The United States District Court for the District of Massachusetts (the “Court”) has preliminarily approved the proposed settlement (the “Settlement”) of $61,000,000 in cash. The Settlement is between the Plaintiffs and
Defendants (the “Parties”). A full list of individual Plaintiffs and Defendants can be found within the Notice and Court Documents. This Action concerns allegations that Defendants breached fiduciary duties owed to
participants and beneficiaries in the Plan during the Class Period. Defendants deny all of the claims made in the Complaint, deny all allegations of wrongdoing, and deny that the Plaintiffs, the Class Members, the Plan, or
any of the Plan’s current or former participants suffered any losses. Defendants further maintain that they acted prudently and loyally at all times when acting in any fiduciary capacity with respect to the Plan.</p>
<p>You are included as a Class Member if you were a Plan participant at any time from September 26, 2011 to August 3, 2023 (the “Class Period”).</p>
<p>GE, GEAM, and/or their respective insurers will contribute, or cause to be contributed, into an Escrow Account $61,000,000 in cash. After payment of Attorneys’ Fees and Expenses, Incentive Awards to the Plaintiffs, and Notice
and Administration Costs, the amount remaining (the “Net Settlement Fund”) shall be allocated among authorized members of the Class according to a Plan of Allocation to be approved by the Court.</p>
<p><strong>Class Members do not have to submit claim forms in order to receive Settlement benefits.</strong></p>
<p>Please read the notice carefully. Your legal rights are affected whether you act, or don’t act.</p>
<p><!-- SUMMARY TABLE : START --></p>
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<h4><strong>THIS TABLE CONTAINS A SUMMARY OF YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT</strong></h4>
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<p><strong>You Can Object by February 15, 2024</strong></p>
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<p>You can write to the Court if you do not like the Settlement.</p>
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<p><strong>You Can Attend a Hearing on March 7, 2024</strong></p>
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<p>If you have submitted written objections, you can also ask to speak in Court about the fairness of the Settlement.</p>
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<p><strong>You Can Do Nothing</strong></p>
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<p>If the Settlement is approved by the Court and you are a member of the Class, you will not need to do anything to receive a payment.</p>
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<p class="font-size:12;">Copyright 2023 by Rust Consulting | <a href="https://ge401ksettlement.com/Privacy-Policy">Privacy Policy</a></p>
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</form>Text Content
Skip to main content GE ERISA Settlement Toggle navigation * Home * Settlement Information * About Class Counsel * Contact Us GE 401 (K) PLAN SETTLEMENT IN RE GE ERISA LITIGATION MASTER FILE NO. 1:17-CV-12123-IT Read More IMPORTANT COURT ORDERED NOTICE This is a certified class action on behalf of all participants in GE’s 401(k) Plan, a/k/a the GE Retirement Savings Plan and its predecessor the GE Savings and Security Program, as well as participants whose accounts were transferred from the GE Retirement Savings Plan and merged into a successor plan created in connection with the spinoff of a GE company (the “Plan”), who invested in the GE Funds between September 26, 2011 to August 3, 2023 (the “Class Period”), and on behalf of the Plan, alleging breach of fiduciary duties of loyalty and prudence and prohibited transactions in violation of the Employee Retirement Income Security Act of 1974, 29 U.S.C. §1001, et seq. (“ERISA”). The United States District Court for the District of Massachusetts (the “Court”) has preliminarily approved the proposed settlement (the “Settlement”) of $61,000,000 in cash. The Settlement is between the Plaintiffs and Defendants (the “Parties”). A full list of individual Plaintiffs and Defendants can be found within the Notice and Court Documents. This Action concerns allegations that Defendants breached fiduciary duties owed to participants and beneficiaries in the Plan during the Class Period. Defendants deny all of the claims made in the Complaint, deny all allegations of wrongdoing, and deny that the Plaintiffs, the Class Members, the Plan, or any of the Plan’s current or former participants suffered any losses. Defendants further maintain that they acted prudently and loyally at all times when acting in any fiduciary capacity with respect to the Plan. You are included as a Class Member if you were a Plan participant at any time from September 26, 2011 to August 3, 2023 (the “Class Period”). GE, GEAM, and/or their respective insurers will contribute, or cause to be contributed, into an Escrow Account $61,000,000 in cash. After payment of Attorneys’ Fees and Expenses, Incentive Awards to the Plaintiffs, and Notice and Administration Costs, the amount remaining (the “Net Settlement Fund”) shall be allocated among authorized members of the Class according to a Plan of Allocation to be approved by the Court. Class Members do not have to submit claim forms in order to receive Settlement benefits. Please read the notice carefully. Your legal rights are affected whether you act, or don’t act. THIS TABLE CONTAINS A SUMMARY OF YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT You Can Object by February 15, 2024 You can write to the Court if you do not like the Settlement. You Can Attend a Hearing on March 7, 2024 If you have submitted written objections, you can also ask to speak in Court about the fairness of the Settlement. You Can Do Nothing If the Settlement is approved by the Court and you are a member of the Class, you will not need to do anything to receive a payment. Read More Copyright 2023 by Rust Consulting | Privacy Policy