Employment

Providence Health $42.7M 401(k) Forfeiture ERISA Settlement

Settlement Amount
$42.7M (401k plan expense coverage 2026-2028, ~$15.3M) plus per-capita distribution

Claim Deadline
October 6, 2026

Total Fund
$42.7M (401k plan expense coverage 2026-2028, ~$15.3M) plus per-capita distribution

Providence Health $42.7M 401(k) Forfeiture ERISA Settlement allows eligible class members to file claims from a $42.7M (401k plan expense coverage 2026-2028, ~$15.3M) plus per-capita distribution fund. The deadline is October 6, 2026. Anyone who was a participant in or beneficiary of the Providence Health & Services 401(k) Savings Plan or the Swedish Health Services 401(k) Plan between January 1, 2018 and June 4, 2026, including QDRO alternate payees.

Do I Qualify?

You may be eligible if:

You received notice that you may be a class member in this settlement
You meet the class definition described in the official settlement notice
Eligible states: All
Class period: January 1, 2018 – June 4, 2026
You file a valid claim by October 6, 2026

File your claim through the official settlement website at openclassactions.com before October 6, 2026.

File Your Claim →

What Happened?

Providence Health $42.7M 401(k) Forfeiture ERISA Settlement resolves claims through a $42.7M (401k plan expense coverage 2026-2028, ~$15.3M) plus per-capita distribution settlement without further litigation. Class members who received notice may be eligible to file.

Estimated ~$106 per participant, automatic, deposited into plan account. Providence also covers the plan's recordkeeping and administrative expenses for 2026-2028 (approx. $15.3M).

How to File Your Claim

Automatic payment — no claim form required. An equal per-capita share, estimated by Class Counsel at about $106, will be deposited directly into your plan account.
Visit the official claim form: https://openclassactions.com/settlements/employment/erisa/providence-health-401k-forfeiture-class-action-settlement.php

How Much Will I Actually Get?

Estimated ~$106 per participant, automatic, deposited into plan account. Providence also covers the plan's recordkeeping and administrative expenses for 2026-2028 (approx. $15.3M).

Last reviewed: August 3, 2026 | Information verified from court records and official settlement documents.

Frequently Asked Questions

What is this settlement about?

This is an ERISA class action settlement involving alleged improper use of forfeitures in the Providence Health & Services 401(k) Savings Plan and the Swedish Health Services 401(k) Plan. Providence will cover plan recordkeeping and administrative expenses for 2026–2028 (about $15.3 million) and make a per-capita distribution to eligible participants. The overall settlement value is described as approximately $42.7 million.

Do I need to file a claim?

No. Payment is automatic — no claim form is required. An equal per-capita share will be deposited directly into your plan account if you are an eligible participant or beneficiary.

How much will I get?

Class Counsel estimates about $106 per participant as an equal per-capita share, deposited automatically into the plan account. Separately, Providence covers the plan's recordkeeping and administrative expenses for 2026–2028 (approximately $15.3 million). Exact distribution amounts are subject to plan records and final court approval.

What if I want to object?

If you want to object to the settlement, follow the objection instructions in the official settlement notice and on the settlement administrator's materials. Objections typically must be filed by the deadline stated in the notice (claims distribution itself requires no filing). Review the notice carefully for court filing requirements and timing. Relevant deadlines associated with this matter run through October 6, 2026.