Costco Retirement Plan Class Action Settlement
Claim Form Deadline: July 1, 2022
Estimated Payout: Varies
Proof required: Yes
Method of payment: Mailed Check
What's This Settlement About?
Consumers have won a $3.2 Million class action lawsuit against Costco. The Class Action Settlement was funded due to allegations that Coscto caused Retirement Plan members to pay higher
administrative fees and investment management fees than was deemed reasonable and necessary.
How Do I Qualify?
All participants, beneficiaries, and alternate payees are included in
this class action lawsuit of the Costco 401(k)
Retirement Plan if:
• You have a Plan account as of the date the Settlement Class is certified by
the Court or;
• Do not have a Plan account as of the date the Settlement Class is
certified by the Court, and had a Plan account on or after the last business
day of a month on and after May 30, 2014, provided that such Plan account
attained a balance in excess of $1000 for at least 12 months beginning on and
after May 30, 2014 (such balance and months to be calculated as of the last
business day of a month).
What Can I Get?
There is two class members “Current Participant” or a “Former Participant"
• Current Participants: Costco has agreed to provide an administrative fee
reduction allocated among Current Participants with a maximum value of $3,200,000.
Costco will ensure that the Plan Administrative Service Per Capita Record keeping
Fee deducted from Plan accounts does not exceed $3.25 per Plan account per quarter
for as many quarters as it takes for the reduction to equal $3,200,000 in the
• Former Participants and eligible Current Participants (Current Participants who
cease to have a Plan account by the Settlement Effective Date): Costco has agreed
to establish a $400,000 Former Participant Pool against which Former Participants
will be entitled to make a claim for payment. The amount of each Former Participant
Class Member's payment will be based on the number of quarters his or her Plan
account balances exceeded $1,000 during the Class Period and will be determined
according to a Plan of Allocation in the Settlement Agreement. Payments to former
Plan participants who submit a claim will be made directly to former Plan
participants by check.
How Do I File a Claim?
If you are a "Current Participants" you will
automatically receive the benefits form this lawsuit
and Former Participant may submit a claim form online (see below) or print the PDF
HERE and send it by mail
by July 1, 2022, to:
The Costco 401(k) Plan Settlement Administrator
P.O. Box 2007
Chanhassen, MN 55317-2007
If you are a Former Participants, you can file a claim below. A Fairness Hearing has been set for July 18, 2022 at 9:30 a.m.
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