Capital One 401(k) ERISA $9.6 Million Settlement — No Claim Form Needed, Payments Are Automatic
By Steve Levine
Published: March 10, 2026
Settlement Fund: $9,600,000
Claim Form: Not needed — payments are automatic
Objection Deadline: May 26, 2026
What Is This Settlement About?
If you work or used to work at Capital One and participated in the company's 401(k) retirement savings plan, you may be entitled to an automatic payment from a $9.6 million settlement — and you do not need to file a claim form to get it.Here is the background in plain English: When you contribute to a 401(k) plan, your employer often matches some of your contributions. At Capital One, employees had to work for at least two years to "vest" in the employer match — meaning if you left the company before two years, you forfeited the unvested portion of Capital One's contributions. Those forfeited amounts are called "forfeitures."
The lawsuit alleged that Capital One was required under ERISA (the federal law governing retirement plans) to use those forfeitures to pay the Plan's administrative expenses — things like recordkeeping fees, account maintenance, and other costs of running the 401(k). Instead, Capital One used the forfeitures to subsidize its own matching contributions. This saved the company money because it could use forfeiture money to fund matches rather than paying out of its own pocket. The plaintiffs argued this violated ERISA's fiduciary duties of prudence and loyalty.
Capital One denies all allegations and says it managed the Plan properly, prudently, and in the best interests of participants. The company argues its use of forfeitures complied with over sixty years of legal guidance. The court has not determined who is right. The parties reached a settlement during mediation on September 12, 2025, before the court ruled on Capital One's motion to dismiss.
Do I Qualify?
You qualify if you participated in the Capital One Financial Corporation Associate Savings Plan (or any predecessor or successor plan) at any time between November 11, 2018 and January 13, 2026. This includes current employees with an active plan account, former employees who had a plan account during the class period (even if your account is now closed), beneficiaries of deceased plan participants, and alternate payees under a Qualified Domestic Relations Order (QDRO).Defendants and their beneficiaries are excluded.
Do I Need to File a Claim?
No. This is one of the rare settlements where you do not need to do anything to get paid. Payments are calculated automatically using the Plan's own records. You do not need to produce any documents or prove your participation.If you still have an active account in the Plan (meaning your account has a balance greater than $0), your share of the settlement will be deposited directly into your Plan account and invested according to your current investment elections.
If you are a former participant (your account is closed or has a $0 balance), you will receive a check mailed directly to you by the settlement administrator. Checks are valid for 180 days. If you are a former participant, make sure the Plan has your current address. Contact Class Counsel at settlement@capozziadler.com if you need to update your information.
How Much Money Will I Get?
Your payment depends on how long you participated in the Plan during the class period. The settlement administrator calculates your share based on the number of years you had a positive account balance in the Plan between November 2018 and January 2026, relative to all other class members. The longer you participated, the larger your proportional share.The total settlement fund is $9,600,000. After attorneys' fees (up to $3,200,000), litigation expenses (up to $50,000), case contribution awards (up to $5,000 per plaintiff, for 9 plaintiffs), and administration costs are deducted, the remaining "Net Settlement Amount" is divided among class members. Former participants whose share calculates to $5 or less will not receive a distribution.
Can I Opt Out?
No. This is a non-opt-out class action certified under Federal Rule of Civil Procedure 23(b)(1). You cannot exclude yourself from the settlement. You are bound by the settlement terms whether you receive a payment or not.You can, however, object to the settlement if you disagree with any part of it. Objections must be filed with the court by May 26, 2026.
What Are the Important Dates?
Class Period: November 11, 2018 – January 13, 2026
Objection Deadline: May 26, 2026
Fairness Hearing: June 25, 2026 at 9:30 AM (S.D.N.Y.)
Claim Form: Not required — payments are automatic
What Happens If I Do Nothing?
If you do nothing and you are a class member, you will still participate in the settlement automatically. If you have an active Plan account, your share will be deposited. If you are a former participant with a valid address on file, you will receive a check. You do not need to take any action.Case Information
Caption: Singh, et al. v. Capital One Financial Corporation, et al., Case No. 1:24-cv-08538-MMG
Court: U.S. District Court for the Southern District of New York
Judge: Honorable Margaret M. Garnett
Settlement Fund: $9,600,000
Defendants: Capital One Financial Corporation, Board of Directors, Investment Committee
Class Counsel: Capozzi Adler, P.C. (Mark K. Gyandoh)
Defense Counsel: Morgan, Lewis & Bockius LLP
Settlement Administrator: Analytics LLC
Attorney Fees: Up to 33 1/3% of settlement ($3,200,000 max)
Claim: ERISA breach of fiduciary duty — misuse of plan forfeitures
How Do I Find Class Action Settlements?
Find all the latest class actions you can qualify for by getting notified of new lawsuits as soon as they are open to claims:Official Settlement Notice (PDF)
Settlement Website: CapitalOneERISASettlement.com
View Settlement Details
Sources
• Official Settlement Site — CapitalOneERISASettlement.com• Court-authorized settlement notice and settlement agreement (filed December 23, 2025)
Filing Class Action Settlement Claims
Please note that no claim form is required for this settlement. Payments are automatic based on Plan records. OpenClassActions.com is a consumer advocacy and class action news site, and is not a class action administrator or a law firm.
For more class actions keep scrolling below.
Bayer RoundUp Bug Spray Lawsuits
Status: Open to Claims
Submit Claim
Video Game Addiction Lawsuit
Deadline: Pending
Submit Claim
DraftKings & FanDuel Addiction Lawsuits
Status: Open
Submit Claim
Children playing Roblox and using Discord?
Pre-Qualify Here
Submit Claim
$4.17M RevitaLash Conditioner Settlement
Deadline: April 20, 2026
Submit Claim
$87.5M Beef Prices Settlement
Deadline: June 30, 2026
Submit Claim
Dollar General Bait & Switch Settlement
Deadline: April 13, 2026
Submit Claim
$7.25 Billion RoundUp Bug Spray Settlement
Deadline: Pending
Learn More
Belkin Power Bank Settlement
Deadline: March 30, 2026
Submit Claim
Michael Kors Outlet Class Action Settlement
Deadline: March 20, 2026
Submit Claim
Depo Provera Investigation
Deadline: Pending
Pre-Qualify| Capital One 401(k) ERISA Settlement Summary | |
| Status | Pending Court Approval — Payments Automatic When Approved |
|---|---|
| Claim Form | Not required — payments are automatic |
| Objection Deadline | May 26, 2026 |
| Fairness Hearing | June 25, 2026 at 9:30 AM (S.D.N.Y.) |
| Settlement Fund | $9,600,000 |
| Who Qualifies | Capital One Associate Savings Plan participants (Nov 2018 – Jan 2026) |
| Opt-Out | Not available — non-opt-out class (Rule 23(b)(1)) |
| Case | Singh v. Capital One, No. 1:24-cv-08538-MMG (S.D.N.Y.) |
| Website | Capital One ERISA Settlement |