Here are answers to frequently asked questions about the case. Detailed information about the settlement is contained in the Class Notice and Settlement Agreement.
If you do not find an answer to your question here, please contact us directly.
Frequently Asked Questions
BASIC INFORMATION
1. What is the notice and why should I read it?
A court authorized the notice to let you know about a proposed settlement of a class action lawsuit called Carimbocas, et al. v. TTEC Services Corp., et al., Civil Action No. 1:22-cv-02188-CNS-STV, brought on behalf of the Class Members, and pending in the United States District Court for the District of Colorado. The notice describes the Settlement. Please read the notice carefully, as it explains your rights and options—and the deadlines to exercise them. Please understand that if you are a Class Member, your legal rights are affected regardless of whether you act.
2. What is a class action lawsuit?
A class action is a lawsuit in which one or more plaintiffs sue on behalf of a large group of people who allegedly have similar claims. After the parties reached an agreement to settle this case, the Court granted preliminary approval of the Settlement and determined that the case should be treated as a class action for settlement purposes. Among other things, this preliminary approval permits Class Members to voice their support for, or opposition to, the Settlement before the Court makes a final determination of whether to approve the Settlement. Because this is a class action for settlement purposes, the Court will resolve these issues for all class members.
Plaintiffs in this Action, Elijah Carimbocas, Linda Dlhopolsky, and Morgan Grant, were participants in the Plan during the Class Period and are referred to as the “Plaintiffs.” The Court has appointed them as named representatives of the Settlement Class.
THE CLAIMS IN THE LAWSUIT AND THE SETTLEMENT
3. What is this Action about?
Plaintiffs filed a complaint alleging Defendants breached their fiduciary duties under ERISA—that is, certain responsibilities under federal law—in administering the Plan. Specifically, over the course of the lawsuit, Plaintiffs have claimed Defendants caused the Plan to incur unreasonable and “excessive” fees for recordkeeping services and allowed the Plan to offer certain investment options that purportedly were too expensive and/or “underperformed” available alternatives. A more complete description of what Plaintiffs alleged is in the operative Complaint, available here. Defendants deny any wrongdoing or liability and will continue to vigorously defend the lawsuit should the Court not approve the proposed Settlement.
4. Why is there a Settlement?
The Court has not decided in favor of either side in the Action. Instead, both sides agreed to a settlement. That way, both sides can avoid the cost and risk of a trial, and the affected Current and Former Participants will get benefits that they would not have received if Plaintiffs had litigated the case and lost. The Plaintiffs and their attorneys believe the Settlement is in the best interest for the Class Members. Defendants are settling this case to avoid the expense, inconvenience, and inherent risk and disruption of litigation.
WHO IS INCLUDED IN THE SETTLEMENT?
5. How do I know if I am part of the Settlement?
The Court has decided that anyone who fits the following description is part of the Settlement Class:
All persons who participated in the Plan at any time during the Class Period, including any Beneficiary of a deceased Person who participated in the Plan at any time during the Class Period, and any Alternate Payee of a Person subject to a QDRO who participated in the Plan at any time during the Class Period. Excluded from the Settlement Class are Defendants and their Beneficiaries.
As noted above, the Class Period is from August 25, 2016 through the date on which the Court authorized the Notice to the Class. If you meet the definition above, then you are a Class Member and are included in the Settlement.
THE SETTLEMENT BENEFITS
6. What does the Settlement provide?
Defendants have agreed to pay a total amount of $750,000 into an account at a financial institution identified by Class Counsel, which shall constitute the Gross Settlement Amount to be paid into the Qualified Settlement Fund. This Gross Settlement Amount includes amounts for expenses associated with administering the Settlement, taxes, tax expenses, fees incurred for an Independent Fiduciary’s review of the Settlement on behalf of the Plan, as well as Court-approved Attorneys’ Fees and Costs and compensation to the Plaintiffs. (See Questions 9 & 10.)
The Net Settlement Amount, after payment of the aforementioned costs and expenses, will be allocated to the Class Members according to the approved Plan of Allocation, if the Court enters an order finally approving the Settlement. According to the proposed Plan of Allocation, each Class Member’s share of the Net Settlement Amount is based on the recordkeeping fees paid from Plan assets during each Plan Year of the Class Period (2016–2024) that are attributable to that Class Member’s account. Because specific fee data for individual participants may not be available for each year, the Plan of Allocation uses each Class Member’s year-end account balance for each year as a proxy for that individual’s share of the Plan’s fees. In general, Class Members who had higher account balances (and thus paid higher fees) during the Class Period will receive a larger allocation, while Class Members with lower balances will receive a smaller allocation.
If you are a Class Member (see Question 5) and you are currently a Plan participant, your payment will be deposited into your Plan account according to your investment elections for new contributions. If you have not made any such elections, your payment will be invested in the Plan’s qualified default investment alternative.
If you are a Class Member who previously participated in the Plan but no longer do (or you are a Beneficiary or an Alternate Payee of such a Class Member), you will receive a payment under the Settlement in the form of a check. You do not have to submit a claim to receive such a payment.
If you are a Beneficiary entitled to receive payments on behalf of a Class Member, you will receive your payment under the Settlement directly in the form of a check. If you are an Alternate Payee entitled to receive payments on behalf of a Class Member pursuant to a Qualified Domestic Relations Order, you will receive your payment of the Settlement (pursuant to the terms of your Qualified Domestic Relations Order) directly in the form of a check.
No amount will be distributed to Current or Former Participants whose pro rata share is $10.00 or less, because such amount is de minimis and would cost more in processing than its value. The Plan of Allocation accounts for these individuals by reallocating these amounts among other eligible Class Members or used to offset Plan administrative costs for the benefit of the Plan. The total amount of all checks to be written by the Settlement Administrator plus the total amount of all credits the Plan is instructed to make to Current Participants may not exceed the Net Settlement Amount.
This Settlement is non-reversionary and no portion of the Net Settlement Amount will return to Defendants. If any settlement funds remain after all distributions have been made (for example, as a result of uncashed checks), those funds will be contributed to the Plan to defray administrative expenses or otherwise benefit the Plan’s participants.
HOW TO GET BENEFITS
7. How do I get a settlement payment?
Class Members do not have to submit claim forms in order to receive settlement payments. The benefits of the Settlement will be distributed automatically once the Court approves the Settlement, either to Class Members’ Plan accounts (for current Plan participants) or by check (for former Plan participants, and eligible Beneficiaries and Alternate Payees). (See Question 6.)
8. When will I get my payment?
It is hard to say when you may receive your share of the Net Settlement Amount. However, the Settlement amounts should be distributed approximately three (3) months after the Settlement has received final approval by the Court (and/or after any appeals have been resolved in favor of the Settlement). The hearing to consider the final fairness of the Settlement is scheduled for January 22, 2026 at 1:00 p.m. Should there be an appeal, this can take one year or longer.
All checks will expire and become void 90 days after they are issued, if they have not been cashed. These payments may have certain tax consequences. You should consult your tax advisor.
Please note: There will be no payments if the Settlement is terminated. The Settlement may be terminated on several grounds, described in the Settlement Agreement. In the event any of these conditions occur, there will be no Settlement payment made, and the litigation will resume.
THE LAWYERS REPRESENTING YOU
9. Who represents the Settlement Class, including me?
For purposes of the Settlement, the Court has appointed the law firms of Lieff Cabraser Heimann & Bernstein, LLP and Werman Salas P.C. as Class Counsel. If you want to be represented by your own lawyer, you may hire one at your own expense.
In addition, the Court appointed Plaintiffs Elijah Carimbocas, Linda Dlhopolsky, and Morgan Grant as representatives of the Settlement Class. They are also Settlement Class Members. Subject to approval by the Court, Class Counsel has proposed that $5,000 may be paid to each Plaintiff as the Class Representatives, in recognition of time and effort they expended on behalf of the Settlement Class (“Case Contribution Awards”). The Court will determine the proper amount of any such payment to Plaintiffs.
10. How will the lawyers be paid?
From the start of the case in August 2022 to present, Class Counsel have not received any payment for their services in prosecuting this case or obtaining a settlement, and have not have been reimbursed for out-of-pocket costs they incurred. Class Counsel will file a petition asking the Court to award Attorneys’ Fees and Costs (a copy will be posted on this Settlement Website). The Court will consider Class Counsel’s petition at the Final Fairness Hearing. Class Counsel also will apply for attorneys’ fees not to exceed one-third of the Gross Settlement Amount, plus out-of-pocket expenses incurred in prosecuting this case. The Court will decide the amount of any attorneys’ fees and costs to award to Class Counsel. Any and all attorneys’ fees and costs awarded by the Court will be paid to Class Counsel from the Gross Settlement Amount.
As noted, Class Counsel also will request that $5,000 be paid from the Gross Settlement Amount to each of the three Plaintiffs as Case Contribution Awards, in recognition of their assistance.
YOUR RIGHTS AND OPTIONS
11. What is the effect of the Court’s final approval of the Settlement?
If the Court grants final approval of the Settlement, a final order and judgment dismissing the case will be entered in the Action. Once the appeal period expires or any appeal is resolved, payments under the Settlement will then be processed and distributed. All Class Members included in the Settlement will release and forever discharge Defendants and each of the other Released Parties from any and all of Released Claims.
The Released Parties are (a) Defendants; (b) Defendants’ insurers, co-insurers, and reinsurers; (c) Defendants’ direct and indirect past, present, and future affiliates, parents, subsidiaries, divisions, joint ventures, predecessors, successors, Successors- In-Interest, assigns, boards of trustees, boards of directors, officers, trustees, directors, partners, agents, managers, members, or employees, or heirs (including any individuals who serve or served in any of the foregoing capacities, such as members of the boards of trustees or boards of directors that are associated with any of Defendants’ past, present, and future affiliates), and each Person that controls, is controlled by, or is under common control with them; (d) for (a) through (c) above, their past, present, and future agents, officers, employees, trustees, board of directors or trustees, members of the board of directors or trustees, independent contractors, representatives, attorneys, administrators, insurers, fiduciaries, accountants, auditors, advisors, personal representatives, spouses, heirs, executors, administrators, associates, employee benefit plan fiduciaries (with the exception of the Independent Fiduciary), employee benefit plan administrators, employee benefit plan committees and subcommittees, service providers to the Plan (including their owners and employees), members of their immediate families, consultants, subcontractors, and all persons acting under, by, through, or in concert with any of them; and (e) the Plan and the Plan’s current and past fiduciaries, committees, subcommittees, administrators, plan administrators, recordkeepers, service providers, consultants, attorneys, agents, insurers, and parties-in-interest.
Released Claims are defined in the Settlement Agreement and include (but are not limited to) all claims that were or could have been asserted in the Action, and claims related to the Qualified Settlement Fund. This means, for example, that Settlement Class Members will not have the right to sue the Released Parties for failure to prudently select and monitor the Plan’s investment options or fees, for the manner in which they allocated forfeitures, or any other related matters, that occurred during the Class Period.
Please refer to Sections 1.37 and 1.38 of the Settlement Agreement for a full description of the claims and the persons that will be released upon final approval of the settlement.
If the Settlement is approved, no Class Member will be permitted to assert any Released Claims in any other litigation against the Defendants or any other Released Party.
If you object to the terms of the Settlement Agreement, you may notify the Court of your objection. (See Table on page 2 of the Notice.) If the Settlement is not approved, the case will proceed as if no settlement had been attempted or reached.
If the Settlement is not approved and the case resumes, there is no assurance that Class Members will recover more than is provided for under the Settlement, or anything at all.
12. Can I opt out of the Settlement?
No. If the Court approves the Settlement, you will be bound by it and will receive whatever benefits you are entitled to under its terms. You cannot exclude yourself from the Settlement, but you may notify the Court of any objection you might have to the Settlement, as described below (see Question 15). If the Court approves the Settlement, it will do so on behalf of a “mandatory” class under Federal Rule of Civil Procedure 23(b)(1), which does not permit class members to opt out of the Settlement Class.
13. What happens if I do nothing at all?
If you are a Settlement Class Member and do nothing, you still will participate in the Settlement of the Action as described in the Notice. And you will release any claims you may have against Defendants and the other Released Parties concerning the conduct Plaintiffs allege in this Action. You may receive a payment as described in Question 8.
14. Can I sue Defendants for the same thing later?
No. If the Court approves the Settlement, you will have released any right to sue the Defendants or any Released Party for the claims being resolved by this Settlement and any and all other “Released Claims,” as set forth in the Settlement Agreement. See Question 11 above.
15. How do I tell the Court that I object to the Settlement?
If you are a Class Member, you can object to the Settlement if you do not agree with any part of it. To object, you must file with the Court a written statement of your objection(s), specifying the reason(s) for each objection, including any legal support or evidence that you wish to bring to the Court’s attention. The Court will consider your views.
The objection must be in writing and include the case name Carimbocas, et al. v. TTEC Services Corp., et al., Civil Action No. 1:22-cv-02188-CNS-STV (D. Colo.), and (a) your name; (b) your address; (c) a statement that you are a Class Member; (d) the specific grounds for the objection (including all arguments, citations, and evidence supporting the objection); (e) all documents or writings that you desire the Court to consider (including all copies of any documents relied upon in the objection); (f) your signature; and (g) a notice of intention to appear at the Fairness Hearing (if applicable). (If you are represented by counsel, you or your counsel must file your objection through the Court’s CM/ECF system.) The Court will consider all properly filed comments from Class Members. If you wish to appear and be heard at the Fairness Hearing in addition to submitting a written objection, you or your attorney must say so in your written objection.
You must mail your objection to each of the addresses listed below at least thirty (30) calendar days prior to the Final Fairness Hearing. If you do not timely file an objection it will be deemed to have been waived, and you will be barred from raising the untimely objection.
Clerk of Court
U.S. District Court for the District of Colorado
Alfred A. Arraj United States Courthouse
901 19th Street
Denver, CO 80294
Class Counsel
Douglas M. Werman
John J. Frawley
WERMAN SALAS P.C.
77 W Washington Street Ste 1402
Chicago, IL 60602
Daniel M. Hutchinson
LIEFF CABRASER HEIMANN & BERNSTEIN, LLP
275 Battery Street, 29th Fl
San Francisco, CA 94111
Attorneys for Defendant
Deborah S. Davidson
Matthew A. Russell
Samuel D. Block
MORGAN, LEWIS & BOCKIUS LLP
110 N. Wacker Drive
Chicago, IL 60606
Darren E. Nadel
LITTLER MENDELSON, P.C.
1900 Sixteenth Street
Suite 800
Denver, CO 80202
Settlement Administrator
TTEC 401K Settlement
c/o Analytics Consulting LLC
P.O. Box 2010
Chanhassen, MN 55317-2010
THE COURT’S FAIRNESS HEARING
16. When and where will the Court decide whether to approve the Settlement?
The Court will hold a Final Fairness Hearing to decide whether to approve the Settlement as fair, reasonable, and adequate. The Final Fairness Hearing has been set for January 22, 2026 at 1:00 p.m. at the United States District Court for the District of Colorado, at the Alfred A. Arraj United States Courthouse, 901 19th Street, Courtroom A702, Denver, Colorado, 80294.
At the hearing, the Court will hear any comments, objections, and arguments concerning the fairness of the proposed Settlement, including the amount requested by Class Counsel for Attorneys’ Fees and Costs and the Plaintiffs’ Case Contribution Awards. You may attend the Final Fairness Hearing. If there are objections, the Court will consider them – but you do not need to attend the Final Fairness Hearing to have the Court consider an objection.
Note: The date and time of the Final Fairness Hearing are subject to change by Court Order and may be conducted via conference call, video conference, or other remote means. You will not receive a separate notice, but any such changes will be posted on this Settlement Website.
17. Do I have to come to the hearing?
No, but you are welcome to come at your own expense. Class Counsel will answer any questions the Court may have. If you send an objection, you do not have to attend the Final Fairness Hearing to voice your objection in person. As long as you mail your written objection on time and meet the other criteria outlined above, see Question 15, the Court will consider it. You also may pay your own lawyer to attend the Final Fairness Hearing, but attendance is not necessary.
18. May I speak at the hearing?
Yes. You must send a letter or other paper called a “Notice of Intention to Appear at the Final Fairness Hearing in Carimbocas, et al. v. TTEC Services Corp., et al., Civil Action No. 1:22-cv-02188-CNS-STV (D. Colo.)”. Be sure to include your name, address, telephone number, and signature. Your Notice of Intention to Appear must be filed and postmarked no later than January 7, 2026 and be sent to the Clerk of the Court, Class Counsel, and Defendants’ Counsel at the addresses listed above. If you are represented by counsel, you or your counsel must file any Notice of Intention to Appear at the Final Fairness Hearing through the Court’s CM/ECF system.
GETTING MORE INFORMATION
19. Where can I get more information?
The notice provides only a summary of matters relating to the Settlement. For more detailed information, you may wish to review the complete Settlement Agreement. That Agreement and various other related information can be found here.
You may also obtain more information by writing to the Settlement Administrator at
TTEC 401K Settlement c/o Analytics Consulting LLC
P.O. Box 2010
Chanhassen, MN 55317-2010
Phone: 855-981-3141
Email: TTEC401KSettlement@noticeadministrator.com
The Settlement Agreement and other pleadings and papers filed with the Court are also available during regular business hours at the office of the Clerk of the United States District Court for the District of Colorado, Alfred A. Arraj United States Courthouse, 901 19th Street, Denver, Colorado, 80294.
If you would like additional information, Class Counsel may be reached at the contact information in Question 15 above.