American Red Cross $950,000 ERISA Retirement Plan Settlement
Were you in the American Red Cross Savings Plan at any time from March 2, 2015 through March 31, 2025? You could receive a pro-rata cash payment from a $950,000 class action settlement. Submit your claim (or sit tight if you still have an active account) to secure your share before the Oct. 9, 2025 deadline.
Who Qualifies?
- Participants with an account balance in the American Red Cross Savings Plan (or its predecessor/successor plans) any time between Mar 2 2015 – Mar 31 2025.
- Beneficiaries or alternate payees of those participants.
Current vs. Former Participants
- Current participants (account balance >$0 on June 11 2025) — no action needed; payment will post to your plan account automatically.
- Former participants — must file a claim to receive a check or rollover (payments under $10 will not be issued).
Estimated Payout
The net settlement fund (after court-approved fees and costs) will be divided pro rata based on each claimant’s account balance during the class period. Individual payments will vary.
Important Dates
- Objection deadline: Sept 5 2025
- Fairness hearing: Oct 7 2025 at 2:00 p.m.
- Claim deadline (former participants, beneficiaries, alternate payees): Oct 9 2025
How to Claim Your Share
- Locate the claim number & PIN on the notice mailed to you.
- File online at redcrosserisa.claims-administrator.com
— or — - Print and mail the PDF claim form to:
Red Cross Savings Plan Settlement Administrator
P.O. Box 2010, Chanhassen, MN 55317-2010
Why the Case Settled
Plaintiffs alleged the American National Red Cross and its Benefit Plan Committee violated ERISA by retaining underperforming investment options and permitting excessive administrative and record-keeping fees. While denying wrongdoing, the defendants agreed to a $950,000 settlement to avoid further litigation risk.
FAQ – American Red Cross $950,000 ERISA Retirement Plan Settlement
Do I need proof of my account balance?
No. The settlement administrator will verify eligibility using plan records.
What if my payment is under $10?
Former participants with calculated payments of $9.99 or less will not receive a distribution. This restriction does not apply to current participants.
When will payments be issued?
Distributions occur after the court grants final approval and any appeals are resolved. A specific payout date has not yet been set.
Can I object to the settlement?
Yes. Written objections must be filed with the court by Sept 5 2025.
Who is administering the settlement?
Analytics LLC is the settlement administrator. For assistance call 866-322-1967 or email redcrosserisa@noticeadministrator.com.