SCI Shared Resources SCI 401k $2 Million Settlement Over Excessive Fees and Investments
The SCI Shared Resources SCI 401k $2 Million Settlement Over Excessive Fees and Investments settlement offers $2M in total, with individual payouts of $25+ to eligible claimants who be a participant in or beneficiary of the sci 401(k) plan at any time between july 7, 2016 and april 30, 2026. The filing deadline has not yet been announced. Proof of purchase is not required.
Deadline: No deadline specified
Total amount allocated for all claims
Estimated amount per eligible claim
No proof of purchase needed — anyone eligible can file a claim
No claim form or proof submission is required. Eligible class members are identified automatically, and the settlement administrator calculates each person’s share using their average account balance during the class period. Payments are based on a pro-rata formula relative to the total of all class members’ average account balances, and checks/deposits are sent after final court approval (with former participants mailed to the last known address unless they update it).
Settlement Summary
This class action focuses on the SCI 401(k) plan, a workplace retirement account that is overseen by plan “fiduciaries” responsible for choosing investments and monitoring costs for the benefit of participants. According to the lawsuit, which covers people who had balances in the plan between July 7, 2016, and April 30, 2026, SCI Shared Resources LLC and Service Corp. International allegedly breached their fiduciary duties by permitting excessive administrative fees and maintaining investment options that were not sufficiently prudent. While the companies deny wrongdoing, they agreed to a $2 million settlement to resolve claims without further, expensive litigation, and eligible class members can automatically receive a payment based on their average account balance during the class period. The settlement matters because it reflects a common type of ERISA dispute: participants allege that retirement plans quietly lose value through high fees or weak oversight, even when people are actively saving for retirement. Here, the payout is calculated proportionally (average balance compared with the class total), with certain small awards under $25 excluded, and payments made automatically—current participants generally receiving deposits into their plan accounts and former participants receiving checks. Industry context is important: under the Employee Retirement Income Security Act (ERISA), plan fiduciaries must act in participants’ best interests, follow “process” standards for fees and investments, and ensure costs are reasonable; similar cases have involved claims that recordkeeping fees, administrative expenses, and underperforming or conflicted investment selections should have been challenged or replaced, sometimes leading to settlements or court rulings about fiduciary responsibility and plan governance. The final fairness hearing is scheduled for Sept. 8, 2026, after which any remaining issues related to approval and distribution will be resolved.
Entities Involved
Related Topics
Eligibility Requirements
- Be a participant in or beneficiary of the SCI 401(k) plan at any time between July 7, 2016 and April 30, 2026
- Have an account balance in the SCI 401(k) plan during the class period
- Includes current and former participants, beneficiaries of deceased participants, and alternate payees under a qualified domestic relations order (QDRO)
- Class membership is mandatory (no opt-out) and no separate claim form is required
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Important Notice About Filing Claims
Submitting false information in a settlement claim is considered perjury and will result in your claim being rejected. Fraudulent claims harm legitimate class members and may result in legal consequences.
If you are unsure about your eligibility for this settlement, please visit the official settlement administrator’s website using the link provided above. Review the eligibility criteria carefully before submitting a claim.
Class Action Champion is an independent information resource and is not affiliated with any settlement administrator, law firm, or court. We provide settlement information as a service to help connect eligible class members with legitimate settlements.