Jack Henry & Associates employees who participated in the company’s 401(k) plan between October 9, 2017 and September 11, 2025 may be eligible for money from a class action settlement of up to $22.5 million. Cases like this arise from a common concern in workplace retirement plans: even seemingly small administrative and investment-related fees can significantly erode long-term savings, especially when applied across thousands of participants over many years. Because 401(k) plans are typically run by employers but rely on outside recordkeepers and investment options, participants often have limited visibility into whether the plan is getting competitive pricing and appropriate investment choices. The lawsuit was filed under the Employee Retirement Income Security Act (ERISA), the federal law that requires plan fiduciaries to act prudently and solely in participants’ interests, including a duty to monitor service providers and control unreasonable plan expenses. Plaintiffs in these cases generally allege that a plan’s fiduciaries allowed participants to pay excessive recordkeeping or investment management fees, or failed to use the plan’s size to negotiate better terms—claims that, if true, can affect every participant’s account balance. Settlements of this scale are significant because they can return money to participants without requiring individual proof and can also pressure employers to change plan governance, renegotiate vendor contracts, or adjust investment menus. This settlement fits into a broader wave of ERISA “excessive fee” 401(k) litigation that has targeted large employers across industries, reflecting heightened scrutiny of retirement-plan pricing, revenue-sharing arrangements, and the availability of lower-cost institutional investment shares. While outcomes vary, the trend has pushed employers and plan committees to document fee benchmarking, conduct regular requests for proposals (RFPs) for recordkeeping services, and more carefully evaluate investment options to demonstrate compliance with fiduciary standards that courts increasingly expect from sophisticated, high-asset plans.