$2M SCI Direct 401(k) ERISA Class Action Settlement
SCI Direct has agreed to pay $2 million to settle an ERISA class action alleging excessive fees and imprudent management of its 401(k) retirement plan. Eligible plan participants will receive automatic payments deposited to their plan accounts or by mail — no claim form is required.
Do I Qualify?
You may be eligible if:
- Current or former SCI Direct employees who participated in the company 401(k) plan during the class period
- Payments are distributed automatically based on plan account records
- No claim form is required for the standard distribution
- Fairness hearing: September 8, 2026
No claim form is required. Payments are distributed automatically to eligible 401(k) plan participants based on account records.
No claim form is required. Visit the official settlement website for distribution details and fairness hearing information.
Visit Official Settlement Site →What Happened?
SCI Direct was sued in an ERISA class action alleging the company's 401(k) plan charged excessive administrative and investment management fees, reducing retirement savings for plan participants. ERISA requires plan fiduciaries to act solely in the interest of participants, and excessive fee lawsuits against employers have become one of the most active areas of retirement plan litigation.
SCI Direct agreed to pay $2 million to settle the class action while denying wrongdoing. Eligible plan participants will receive automatic payments after final court approval, with a fairness hearing scheduled for September 8, 2026.
How Much Will I Actually Get?
Eligible 401(k) plan participants receive automatic payments based on their account balances and participation during the class period. Payments are deposited to plan accounts or mailed after final approval. No claim form is required. Visit SCIERISASettlement.com for fairness hearing and distribution details.
Last reviewed: June 22, 2026 | Information verified from court records and official settlement documents.