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Welcome to
the J.P. Morgan Chase Cash
Balance Litigation Settlement
website.
This website
is designed to provide more information to current and former
participants in the JPMorgan Chase Retirement Plan and certain of its
predecessor cash balance plans regarding the settlement (the
“Settlement”) of In
re J.P. Morgan Chase Cash Balance Litigation
and Bilello v. JPMorgan Chase
Retirement Plan. Both actions
are currently pending before the Honorable Denise Cote in the United
States District Court for the Southern District of New York and have
been consolidated solely for purposes of this settlement.
The settlement
will result in a dismissal of the above actions, but
will not change the pension benefit accrued by any participant
under the JPMorgan Chase Retirement Plan or any of its predecessor
plans.
The Court held a Fairness Hearing on June
25, 2010, at 3:00 PM, before the Honorable
Denise Cote at the United States Courthouse, in Courtroom 11B at 500
Pearl Street, New York, NY 10007-1312, to determine whether the
Settlement should be approved. At the fairness hearing, the
Court approved the settlement and counsel's request for a partial
reimbursement of costs. The Court entered an Order and Final Judgment
on July 15, 2010 granting final approval of the settlement and
awarding out-of-pocket costs to some of the class representatives.
A copy of the Order is available by clicking here.
Under the
terms of the settlement, Defendants will provide a financial planning
assistance program to Class members, as set forth in more detail in the
Notice of Pendency of Class Action and Proposed Settlement (the
“Notice”). A copy of the Notice is available by
clicking
here. Beginning on or about October 25, 2010, Defendants distributed to
Class members by U.S. Mail additional information regarding
the financial planning assistance program and how Class
members can access its services.
The Class of
participants covered by this settlement consists of all persons who
have or at any time had a vested benefit in the JPMorgan Chase
Retirement Plan and/or its predecessor retirement plans and, at any
time prior to January 1, 2002, were subject to a cash balance formula
in one or more of the following retirement plans: (1) the Retirement
and Family Benefits Plan of the Chase Manhattan Bank, N.A., (2) the
Retirement Plan of the Chase Manhattan Bank and Certain Affiliated
Companies, (3) the Cash Plan for Retirement of Chemical Bank and
Certain Affiliates, and (4) the Retirement Plan of Chemical Bank and
Certain Affiliated Companies.
Details on
the specific terms and effects of the settlement and the class
of participants covered by this settlement are included in the Notice.
A copy of the Notice is available by
clicking
here.
Additional
details of the proceedings In
re J.P. Morgan Chase Cash Balance Litigation
and Bilello v. JPMorgan Chase
Retirement Plan actions and
documents filed in each of those actions are available by clicking on
the links to the right.
If you have any questions about
the Notice, these actions, or the pending Settlement please contact the
attorney for Plaintiffs listed on the Notice. Contact information for
that attorney is also available by
clicking here.
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