WakeMed, through its insurance provider, has agreed to pay $975,000.00 into a settlement fund and has also agreed to certain nonmonetary terms concerning WakeMed’s future evaluation of service providers for the Plan. Settlement Class Members are eligible to receive a pro rata share of the Settlement Amount remaining after payment of notice and administrative expenses, taxes and tax expenses, attorneys’ fees and expenses that the Court awards to Class Counsel and to the Plaintiffs as service awards (the “Net Settlement Amount”). The amount of each Settlement Class Member’s payment is based on his or her average Plan account balance during the Settlement Class Period and the duration of participation in the Plan during the Settlement Class Period. Payments to Current Participants will be deposited into their respective Plan accounts. Payments to Authorized Former Participants, Beneficiaries and Alternate Payees will be made directly by check.
If you are a Current Participant in the Plan, you do not need to submit a claim in order to get a share of the Net Settlement Fund. If you are a Former Participant in the Plan, you must submit a Former Participant Claim Form in order to get a share of the Net Settlement Fund.
Please review your Class Notice for a complete explanation of your rights and options in this settlement.