Frequently Asked Questions

 

The following are “Frequently Asked Questions” about the settlement.

If you do not find an answer to your question here:

  • Documents such as the Complaint and Settlement Agreement can be found by clicking here
  • You can write the Settlement Administrator at the address listed here
What is this lawsuit about?

The Class Representatives claim that, during the Class Period, Defendants violated ERISA by offering American Beacon Funds in the Plan to the exclusion of more prudent alternative funds managed by investment managers not affiliated with American Airlines or American Beacon and by offering mutual funds rather than other forms of investment products. In the Settlement, “American Beacon Funds” means mutual funds in the Plan’s lineup managed in whole or in part by American Beacon or its affiliates or subsidiaries. Nothing in the Settlement Agreement is an admission or concession on Defendants’ part of any fault or liability whatsoever.

The Notice you received summarizes the proposed Settlement. For the precise terms and conditions of the Settlement, review the Settlement Agreement and other court documents, available here.

How much money will I get?

The amount, if any, that will be allocated to you will be based upon records maintained by the Plans’ recordkeepers. Calculations regarding the 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) “Current Participant” (2) an “Authorized Former Participant” who submitted a completed, satisfactory Former Participant Claim Form by the deadline.

The Net Settlement Amount will be divided pro rata among Class Members based on each eligible Class Member’s weighted account balance invested in Disputed Investments during the Class Period. For purposes of determining each Class Member’s weighted balance, account balances in American Beacon Funds will be weighted at a rate of 10 times the dollar amount invested, and account balances in Non-American Beacon Mutual Funds will be weighted at a rate of 1 times the dollar amount invested. There are approximately 103,000 Class Members. Note that if you are an Alternate Payee pursuant to a Qualified Domestic Relations Order, your portion of the Settlement will be distributed pursuant to the terms of that order.

What do I need to do?

Whether you need to submit a claim form to receive your distribution depends on whether you are considered a
“Current Participant” or a “Former Participant.”

If the notice you received describes you as a Current Participant, you do not need to anything to receive your share of the Settlement.

If the notice you received describes you as a Former Participant, you will need to fill out the Claim Form that was mailed to you and mail it back by February 12, 2018.

When will I receive my money?

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 that approval becoming final and no longer subject to any appeals in any court. An appeal of the final approval may take several years. If the Settlement is approved by the Court, and there are no appeals, the Settlement distribution likely will occur within six months of the Court’s Final Approval Order. There will be no payments under the Settlement if the Settlement Agreement is terminated.

This website will be updated with status as available.

Do I have a lawyer in this case?

Yes, class members are represented by Nichols Kaster, PLLP. Their information is available here.

The lawyers will be paid from the settlement amount if approved, so you will not be charged personally for their work on the case. If you want to be represented by your own lawyer, you may hire one at your own expense.

When will Court decide if my payment is approved?

The Court will hold a Fairness Hearing on February 21, 2018 at 9:00 a.m. At this hearing the Court will consider whether the Proposed Settlement is fair, reasonable and adequate. If there are objections, the Court will consider them. After the Hearing, the Court will decide whether to approve the Proposed Settlement.

What if I have more questions?

You may call the Settlement Administrator toll-free at 855-755-4673. You may also email them at Claims@AASupersaver401kSettlement.com and your inquiry will be responded to as quickly as possible.