RMIC Profit Sharing 401(k) Plan Class Action Settlement
Up to $650,000 total settlement fund, with individual payouts determined after deduction of court-approved attorneys' fees (up to one-third of settlement), administrative expenses, and case contribution award
Last verified September 2, 2026Source: atticusHow ClaimWatch verifies cases
This settlement is closed to new claims. You can still see what it was about and follow the case in court below. Looking for money you can still claim? Browse open settlements →
What happened
Republic Mortgage Insurance Company maintained a Guaranteed Interest Account (GIA) as an investment option in its Profit-Sharing 401(k) Plan. In January 2024, a market value adjustment reduced the value of accounts invested in the GIA. Participants claim the Plan was not administered in accordance with ERISA, the federal law regulating retirement plans. RMIC denies all claims and admits no wrongdoing.
Do you qualify?
All participants in the RMIC Profit Sharing 401(k) Plan whose account balances were reduced by the market value adjustment to GIA assets in or around January 2024, plus their beneficiaries of record and alternate payees, excluding Plan fiduciaries and their beneficiaries.
How to file
Claim procedures and deadlines will be determined after final court approval. The settlement website at rmicplanclassaction.com will provide claim filing instructions. Class members must review the amended settlement notice and updated deadlines on the website.
Common questions
- How much does the RMIC Profit Sharing 401(k) Plan Class Action Settlement pay?
- Estimated payout: Up to $650,000 total settlement fund, with individual payouts determined after deduction of court-approved attorneys' fees (up to one-third of settlement), administrative expenses, and case contribution award. The total settlement fund is $650,000. Actual amounts depend on how many valid claims are filed — most settlements divide a fixed fund pro rata, so a higher claim rate means a smaller individual check. An "up to" figure is a cap, not a guarantee.
- Is the RMIC Profit Sharing 401(k) Plan Class Action Settlement notice real, or a scam?
- Qualified Settlement Fund Administrator (not named) is the settlement administrator for this case. Claims are filed at rmicplanclassaction.com. Filing a class action claim is always free — no legitimate settlement charges you to claim, and no administrator will ask for payment, a gift card, or your full Social Security number by email or text. If a notice asks for any of those, it is not from the administrator. When in doubt, ignore the link you were sent and go to the official settlement website directly.
- When will payments from the RMIC Profit Sharing 401(k) Plan Class Action Settlement be sent?
- Class action payouts typically take 12 to 24 months after the claim deadline, and longer if the settlement is appealed. The final approval hearing for this case is set for October 16, 2026; no payments can be issued before a settlement receives final approval.
Who's involved
Counsel for plaintiffs
- Class Counsel
Parties and counsel from the public court docket. Listing an attorney here isn't an endorsement, and ClaimWatch isn't affiliated with any of them.
New to class actions?
This summary was generated from public settlement documents and may contain errors. Confirm eligibility, deadlines, and payment terms on the official settlement website before filing. ClaimWatch is not a law firm and this is not legal advice. Filing a claim is free.
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