The TTEC 401(k) settlement is a $750,000 class action resolution in Carimbocas v. TTEC Services Corp. that pays current and former participants in the TTEC 401(k) Profit Sharing Plan who had an account at any point between August 25, 2016 and August 26, 2025.1Bloomberg Law. TTEC Services Inks $750,000 Deal Over 401(k) Plan Management2TTEC 401K Settlement. Settlement Home Page Payments are automatic. No claim form is required.
Who Is Covered
The class includes everyone who participated in the TTEC 401(k) Profit Sharing Plan during the nine-year class period, along with beneficiaries of deceased participants and alternate payees under a qualified domestic relations order.2TTEC 401K Settlement. Settlement Home Page The defendants and their beneficiaries are the only people excluded. You cannot opt out. Membership in the class is mandatory.3TTEC 401K Settlement. Frequently Asked Questions
How Much You Get
The $750,000 is a gross amount, and several deductions come off the top before anything is distributed. Class counsel may receive up to one-third in attorney fees plus up to $35,000 in litigation costs. Each of the three named plaintiffs can receive up to $5,000 as a service award, and administrative expenses include up to $15,000 for an independent fiduciary’s review.4TTEC 401K Settlement. Settlement Agreement What remains is the net amount split among the class.
Shares are calculated pro rata. Because per-participant fee data may not be available, the administrator uses each class member’s year-end account balances during the class period as a proxy for the recordkeeping fees they paid. Larger balances held for more years produce larger allocations.3TTEC 401K Settlement. Frequently Asked Questions No specific per-person estimates have been published. With roughly 27,700 participants sharing a modest net amount, individual payments are likely to be small.5NAPA Net. Lack of Meaningful Benchmark Bounces Another 401(k) Excessive Fee Suit Allocations of $10 or less are not distributed; those amounts get reallocated to other eligible members or used to offset plan administrative costs.
How the Payment Reaches You
If you still have an active account in the plan, your share is deposited directly into it and invested according to your existing elections. If you are a former participant, a beneficiary of a deceased participant, or an alternate payee under a QDRO, you receive a check by mail.6TTEC 401K Settlement. Settlement Notice Payments are processed automatically from plan records, so there is nothing to file.
If your address or contact information has changed, or you have not heard anything and believe you should have, reach the settlement administrator, Analytics Consulting LLC, at (855) 981-3141 or TTEC401KSettlement@noticeadministrator.com.6TTEC 401K Settlement. Settlement Notice
When Payments Are Distributed
Judge Charlotte N. Sweeney of the U.S. District Court for the District of Colorado granted preliminary approval in September 2025 and final approval on January 22, 2026, after the fairness hearing held that day.7Bloomberg Law. TTEC Services Gets First Nod for $750,000 Retirement Fee Accord8TTEC 401K Settlement. Important Case Documents The settlement terms called for distributions approximately three months after final approval, absent any appeals, which would place payments around April 2026.3TTEC 401K Settlement. Frequently Asked Questions The settlement is non-reversionary, so any undistributed funds stay with the plan rather than going back to TTEC.
What the Lawsuit Alleged
Three named plaintiffs filed suit in August 2022, arguing that TTEC and its employee benefits committee breached fiduciary duties under ERISA by failing to monitor, benchmark, and negotiate reasonable recordkeeping fees for a plan that held about $285 million in assets and served roughly 27,700 participants.5NAPA Net. Lack of Meaningful Benchmark Bounces Another 401(k) Excessive Fee Suit
The plan’s recordkeeper from 2012 to 2019, Merrill Lynch, charged $54 to $59 per participant annually. After TTEC switched to T. Rowe Price, the fee dropped to $43 to $45 per participant. The plaintiffs argued both figures sat above market, citing a going rate of $30 to $35 during the Merrill Lynch period and pointing to a comparably sized plan that paid $25.56 per participant in 2021 for the same seven recordkeeping services.9GovInfo. Carimbocas v. TTEC Services Corporation, Complaint10Midpage. Carimbocas v. TTEC Services Corporation TTEC denies wrongdoing, and the settlement resolves the claims without any admission of liability.