Whole Foods Market reaches $2 million settlement in 401(k) ERISA class action lawsuit

tion expenses, administration costs and service awards to class representatives, the settlement administrator will distribute the remaining amount to eligible class members.The exact amount each class member receives depends on:The number of eligible class membersThe length of time each class member participated in the plan during the class periodThe account balance of each class member during the relevant periodIf a former participant is eligible for $9.99 or less, they will not receive payment. This restriction does not apply to current participants.How to claim a class action rebateCurrent participants with an active account in the plan do not need to submit a claim form. The settlement administrator will deposit payment automatically into their account if the settlement receives final approval.Former participants, beneficiaries or alternate payees without an active account must file a claim online or download, print, complete and mail the PDF claim form to the settlement administrator. The claims deadline is Nov. 21, 2025.Settlement administrator’s mailing address: Whole Foods Market ERISA Settlement Administrator, P.O. Box 2010, Chanhassen, MN 55317-2010What information is required to submit a claim?All participants must provide their Social Security number.To file an online claim, class members must provide the claim number and PIN from their settlement notice.Payout optionsEligible current participants will receive their payment directly into their active 401(k) plan account.Eligible former participants, beneficiaries or alternate payees without an active account will receive a payment by paper check or rollover.$2 million settlement fund settlementThe $2,000,000 settlement fund covers:Settlement administration costs: To be determinedAttorneys’ fees: Up to $666,666.67Attorneys’ expenses: Up to $75,000Service awards to class representatives: Up to $5,000 each for seven representatives (total up to $35,000)Payments to eligible class members: Remaining fundsImportant datesClaim submission deadline: Nov. 21, 2025Objection deadline: Dec. 16, 2025Final approval (fairness) hearing: Jan. 15, 2026When is the Whole Foods 401(k) ERISA settlement payout date?The settlement administrator will send payments after the court grants final approval of the settlement and resolves any appeals.Why is there a class action settlement?The class action lawsuit alleged Whole Foods Market Inc. and related fiduciaries allowed the 401(k) plan to pay excessive recordkeeping and administrative fees and failed to properly monitor those responsible for the plan. The defendants deny all wrongdoing but agreed to settle to avoid the expense and uncertainty of further litigation.