Sutter Health $4.3M ERISA Class Action Settlement
Sutter Health will pay $4.3 million to settle a class action lawsuit regarding its 403(b) plan management, potentially providing payments to participants from 2014-2025.Summary
Sutter Health has agreed to a $4.3 million settlement to resolve a class action lawsuit alleging violations of the Employee Retirement Income Security Act (ERISA) in its management of the Sutter Health 403(b) savings plan. Individuals who participated in the plan between July 21, 2014, and October 9, 2025, are potentially eligible for a share of the settlement. The funds will be distributed based on factors like account balance, investment choices, and length of participation, with 75% allocated for investment losses and 25% for excessive recordkeeping fees. Current participants with active accounts will automatically receive payments, while former participants must submit a claim form by February 5, 2026. The minimum payment for former participants is $10. The settlement covers administrative expenses, attorney’s fees (up to $1,433,333.33), and service awards, with the remaining funds distributed to class members. Sutter Health denies any wrongdoing but settled to avoid further litigation.
(Source：Claim Depot)