Class Representatives claim that the Defendants improperly selected and retained the Aon Hewitt Funds for the Plan, and that it was not prudent or in the best interest of participants for them to do so. The Class Representatives also claim that Aon Hewitt had a conflict of interest in selecting and retaining these funds.

The Defendants deny all claims and assert that they have always acted prudently and in the best interests of participants and beneficiaries.

The Court has not decided in favor of either side in this Action. Instead, both sides agreed to a settlement. That way, both sides avoid the cost and risk of a trial, and the affected Current and Former Plan participants will get a benefit that they would not have otherwise received if Plaintiffs had litigated the case and lost. The Named Plaintiffs and their attorneys believe the Settlement is in the best interests of the Settlement Class members and the Plan.

All Participants and beneficiaries in the FirstGroup America, Inc. Retirement Savings Plan from October 1, 2013 through the date of preliminary approval August 1, 2024.

Under the Amended Settlement Agreement, Defendants or their insurers will pay $9,000,000 into a Qualified Settlement Fund to resolve the claims of the Settlement Class against Defendants. The Net Settlement Amount (after deduction of any Court-approved Attorneys’ Fees and Costs, Administrative Expenses, and Class Representative Service Awards) will be allocated to Settlement Class Members according to a Plan of Allocation to be approved by the Court.

Allocations to Participant Class Members who are entitled to a distribution under the Plan of Allocation will be made into their existing accounts in the Plan. Former Participant Settlement Class Members who are entitled to a distribution may receive their distribution as a check or, if they choose, as a rollover to a qualified retirement account.

The amount, if any, that will be allocated to you will be based upon records maintained by the Plan’s recordkeeper. Calculations regarding individual distributions will be performed by the Settlement Administrator, whose determinations will be final and binding, pursuant to the Court- approved Plan of Allocation.

To receive a distribution from the Net Settlement Amount, you must either be a (1) “Participant Class Member” as described on page 1 of the Notice; or (2) a “Former Participant Class Member” as described on page 1 of the Notice; or (3) a Beneficiary or Alternate Payee of a person identified in (1) or (2).

There are approximately 29,290 Settlement Class Members. The Net Settlement Amount will be divided pro rata among Settlement Class Members (and their Beneficiaries and Alternate Payees) based on Settlement Class Members’ average quarterly balances in the Aon Hewitt Funds during the Class Period. If the dollar amount of the settlement payment to a Former Participant Class Member is calculated by the Settlement Administrator to be less than $5.00, then that Former Participant Class Member’s pro rata share shall be zero for all purposes, and his or her share shall be reallocated amongst the other Settlement Class Members. Settlement Class Members whose pro rata shares are zero will still be bound by their release of claims. A more complete description regarding the details of the Plan of Allocation can be found in Article V of the Amended Settlement Agreement, which is available in Important Case Documents.

You do not need to file a claim to receive a Settlement Payment. Settlement recoveries will be distributed automatically in the following manner if the Court approves the Settlement:

The timing of the distribution of the Net Settlement Amount is conditioned on several matters, including the Court’s final approval of the Settlement and any approval becoming final and no longer subject to any appeals in any court. An appeal of the final approval order may take several years. If the Amended Settlement is approved by the Court, and there are no appeals, the Settlement distribution likely will occur within approximately four months of the Court’s Final Approval Order.

There will be no payments under the Settlement if the Amended Settlement Agreement is terminated.

No. The Settlement Class has been certified under Federal Rule of Civil Procedure 23(b)(1). Therefore, as a Settlement Class Member, you are bound by the Amended Settlement (if it receives final Court approval) and any judgments or orders that are entered in the Action. If you wish to object to any part of the Amended Settlement, you may write to Class Counsel and Defendants’ counsel about why you object to the Amended Settlement.

If you are a Settlement Class Member, you can object to the Amended Settlement by mailing to Class Counsel, the FGA Defendants’ counsel, and to Aon Hewitt’s counsel at the addresses below a written objection explaining why you object and any supporting documents, and your objection will, in turn, be provided to the Court. Your written objection must: (1) clearly identify the case name and number: Berry, et al. v. FirstGroup America, Inc., et al., Case No. 1:18-cv-00326-JPH; (2) include your full name, current address, and telephone number; (3) describe the position you wish to assert, including the factual and legal grounds for the position; (4) provide copies of all documents that you wish to submit in support of your position; (5) provide the name(s), address(es) and phone number(s) of any attorney(s) representing you; and (6) include your signature.

You must mail your objection and supporting documents to Class Counsel, the FGA Defendants’ counsel, and Aon Hewitt’s counsel no later than November 21, 2024. See your Notice for complete instructions.