Connect with us

Hi, what are you looking for?

OMD NewsOMD News


$20 Million Talen Energy ERISA Settlement: Claim Your Share Now!

(photo: The US Sun)

Talen Energy has settled a $20 million ERISA lawsuit alleging reduced pension benefits for terminated employees.

Energy Corp. Settlement Details and Distribution Plan

Talen Energy Corp. has agreed to a $20 million settlement to resolve allegations under the Employee Retirement Income Security Act (ERISA). The settlement addresses claims that Talen Energy reduced pension benefits for terminated employees in their retirement plan between June 2015 and December 2019. Despite not admitting wrongdoing and Talen Energy chose this settlement to settle the ERISA lawsuit.

The settlement fund will be divided between two groups: Group One includes terminated individuals who may receive payments ranging from $4,000 to $365,759. Group Two consists of members who did not qualify for disputed benefits but will each receive a fixed payment of $4,000. Class members do not need to submit a claim form to receive their payment, simplifying the process, according to the report of The US Sun.

READ ALSO: $10B Industry Stuck: IRS Refuses To Allow Federal Tax Deductions For Marijuana Businesses – Must Know!

(photo: Top Class Actions)

Important Considerations for Energy Corp. Settlement Recipients

It’s recommended that recipients consult tax professionals about the tax implications of their payments. For those wishing to transfer their settlement into an existing retirement account, a rollover form must be submitted by July 1, 2024. This deadline emphasizes the importance of acting promptly for those interested in this option.

This settlement offers a chance for eligible individuals to claim a portion of the $20 million fund. It provides financial relief for those affected by the alleged ERISA violations. With the deadline approaching, affected parties should review their eligibility and consider their next steps carefully to ensure compliance with any necessary requirements.

READ ALSO: $17.5M In Settlements: Thousands Of Individuals To Receive Compensation For Data Breach And Apartment Complex Issues

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


There is finally an update on 4th stimulus check for Social Security Recipients! Individuals who receive Social Security benefits can expect to receive a...


The attack using 14 military choppers that Russian President Vladimir Putin planned was destroyed by Ukraine using US-supplied long-range tactical missiles. Russian President Vladimir...


The Biden administration has announced recently that it plans to increase the monthly payments of seniors and veterans to $2,000. $2,000 in Monthly Payments...


In Texas, this September the SNAP payments will end, worth up to $1,691, on Friday. The household income determines eligibility. A single-person household must earn more than...