The IQVIA 401(k) Settlement is about the misguidance of its 401(k) investment plans risk and to resolve this settlement, a payout of $3.5 million will be distributed through checks or rollover method. The deadline to file a claim form is 23 September and to object is 31 October. Individuals can expect their payouts in mid 2025.
IQVIA 401(k) Settlement
IQVIA 401(k) class action lawsuit is a settlement which provides $3.5 million to valid claimants. This settlement was raised due to the mismanagement of IQVIA Inc. with their 401(k) retirement plan and violation of Employee Retirement Income Security Act (ERISA) by failing to disclose 401(k) investment plan risks and expenses.
There are many class members who can benefit from this settlement, especially those who were participants of 401(k) plans between 23 June 2014 and 24 May 2024. IQVIA has not accepted any wrongdoing while they will pay around $3.5 million to settle this settlement and eligible individuals will receive some portion of this settlement.
Only individuals who file valid claim forms until 23 September 2024 will receive payout of IQVIA 401(k) Settlement. The payout of this settlement will be provided after the final hearing approval decision and it’s expected that it will be paid through rollover or mail in mid 2025.
Who is eligible for IQVIA 401(k) Settlement?
The eligibility criteria of IQVIA 401(k) Settlement is very crucial for those who want to take part in this settlement. That’s why, we have discussed the eligibility criteria in detail to verify before filing a claim.
- The current participants of 401(k) and the former participants of 401(k) plan between specific time frames are eligible.
- The timeframe of this settlement for any current or former participant, beneficiary, or alternate payee is 23 June 2014 to 24 May 2024.
- Only individuals who submit claim forms later than 23 September will not qualify.
IQVIA 401(k) Settlement Key Dates
There are many IQVIA 401(k) Settlement key dates which must be in an interested individual’s mind so that they can not miss any crucial event. Individuals can submit their claim forms till 23 September 2024, object until 31 October 2024, and the final hearing will be held on 2 December 2024.
These all are important dates to follow and if you miss these deadlines then you will not receive your payout amount. These dates can be changed so keep in touch with officials to get updates regarding IQVIA 401(k) Settlement.
How much can you receive through IQVIA 401(k) Settlement?
The total payout amount of this settlement is $3.5 million and this whole amount will not only be provided to class members. Some portion of this settlement will be provided to class representatives and also the attorney fee will be deducted. The per person payout amount for IQVIA 401(k) Settlement will be based on number of claims and other factors.
The payout amount will be between some dollar to some hundred dollars. The payout can be accessed through check or rollover distribution methods. The payout will not be provided to the individuals who will file their claims later than 23 September 2024. Individuals have to stay connected with the official website to get information about the per person payout amount.
When you will receive IQVIA 401(k) Settlement Payout?
Individuals will receive their payouts amount after the final approval hearing decision. If the settlement is approved then the distribution phase will start otherwise the settlement will be closed due to the not approved decision. The final approval hearing will take place at the end of this year on 2 December in theL. Richardson Preyer Courthouse, 324 W. Market Street, Greensboro, NC 27401-2544.
After that, the appeal phase will start and if there are many appeals then individuals need to wait longer otherwise the payout distribution will start after resolvement of appeals. It’s expected that the payout will be given to eligible claimants during 6 months after the final approval hearing. In mid 2025, individuals can anticipate their payout portion of this settlement.
The payment can be late due to several legal proceedings such as volume of claim forms, requirement of additional information, verification of submitted claims, etc. Individuals have to show some patience and they can also ask from the class administrator about the status of their claims.
How to file a claim form for IQVIA 401(k) Settlement?
The step by step process to file claim form is discussed here if you want to receive IQVIA 401(k) Settlement benefit amount.
- Firstly, Interested individuals must collect the documents which are required in claim form and verify the eligibility criteria.
- Then individuals have to go to the official settlement website accessible at https://www.strategicclaims.net/iqvia401k/.
- On the front page, individuals will find a claim form download link and then download it. Many eligible class members have received the claim form and some are being received.
- After getting the claim form, read the given instructions thoroughly and then fill up the form requirements accurately.
- The required information includes social security numbers, name, address, phone number, date of birth, signatures, etc.
- Don’t forget to attach required documents and then choose the payment method of check or rollover distribution.
- Lastly, mail claim form to IQVIA 401(k) Settlement Administrator, c/o Strategic Claims Services, 600 N Jackson Street, Suite 205, Media, PA 19063.
- Please wait for the final approval of this settlement to know about your payment portion and date.