Important Update Regarding the Fairness Hearing:
Please be advised that the Court granted final approval of the Settlement on May 22, 2020.
Settlement checks to former participants will be mailed on March 5, 2021.
If you are a participant or beneficiary of the Allina Health System ("Allina") 403(b) Retirement Savings Plan and the Allina 401(k) Retirement Savings Plan at any time between the Class Period, you may be entitled to a payment under the proposed Settlement.
What is this lawsuit about?
This litigation (the “Action”) is a class action in which Named Plaintiffs Judy Larson, Janelle Mausolf, and Karen Reese, allege that the Defendants breached fiduciary duties owed to the participants in and beneficiaries of the Plans under the Employee Retirement Income Security Act of 1974 ("ERISA") by, among other things, failing to attempt to reduce the Plans’ expenses or exercise appropriate judgment to scrutinize each investment option that was offered in the Plans to ensure it was prudent. Defendants have denied and continue to deny all of the claims and allegations in the Action and deny any liability or wrongful conduct of any kind.
A copy of the Complaint, as well as other documents filed in the Action, are available on the Important Documents page.
Who is included?
You are a member of the Settlement Class if you fall within the definition of the Settlement Class preliminarily approved by Judge Susan Richard Nelson:
All participants and beneficiaries (excluding Defendants and their Immediate Family Members) of the Allina Health System (“Allina”) 403(b) Retirement Savings Plan and the Allina 401(k) Retirement Savings Plan at any time between August 18, 2011 and November 21, 2019.