8:18-cv-00022-JFB-CRZ (D. Neb.)
Mutual of Omaha ERISA Settlement
A Court authorized this website. This is not a solicitation from a lawyer.
This website and the notice advise you of a settlement (the “Settlement”) of a lawsuit against Mutual of Omaha Insurance Company, United of Omaha Life Insurance Company, and members of Mutual of Omaha’s Retirement Plans Investment Committee, Mutual of Omaha’s Retirement Plans Administration Committee, and United of Omaha’s Investment Management Oversight Committee (collectively referred to as “Mutual” or “Defendants”). In the lawsuit, Plaintiffs allege various claims related to the operation of the Mutual of Omaha 401(k) Long-Term Savings Plan and the Mutual of Omaha 401(k) Retirement Savings Plan (the “Plans”). In particular, Plaintiffs claim that Mutual breached its duties of prudence and loyalty by charging the Plans excessive and unreasonable fees in connection with the investment choices offered through Separate Account K, a group annuity contract, and receiving excessive and unreasonable compensation in connection with the management of the Guaranteed Account, which was a fixed income general account investment product available to participants in the Plans. Mutual denies all of the allegations in the lawsuit. Mutual contends that it administered the Plans prudently, lawfully, and properly, that the Plans’ investment options were and are prudent ones, and that the fees were and are reasonable and appropriate. You should read the entire notice carefully because your legal rights will be affected whether you act or not.
The notice explains your rights and options, including the deadline for you to object if you are opposed to this Settlement.
If you have questions about the notice or the proposed Settlement, you may contact Class Counsel (see answer to FAQ 11 for contact information).
Do not contact the Court or the Defendants for information about the Settlement.
The Settlement Administrator or Class Counsel can answer any questions you may have about the proposed Settlement.