PARS $750,000 Data Breach Class Action Settlement

Individuals in the United States whose personal information the March 2024 data breach involving Phase II Systems d/b/a Public Agency Retirement Services compromised may qualify to receive a cash payment from a class action settlement. The cybersecurity incident impacted approximately 23,337 people.

Phase II Systems agreed to pay $750,000 to settle a class action lawsuit alleging a cyberattack on its systems exposed sensitive personal data, including full names and Social Security numbers.

Who can file a claim for a data breach payout?

Class members are individuals residing in the United States whose personal information the March 2024 Public Agency Retirement Services data breach compromised, including those who received notice of the incident.

How much are settlement payments?

Pro rata cash payment: Eligible class members will receive a pro rata cash payment from the net settlement fund.

No claim form required

Class members do not need to submit a claim form to receive a settlement receive payment. Class members who wish to receive an electronic payment can submit a payment selection online using the LoginID and PIN from their settlement notice.

Payout options

• Mailed check (default option)
• E-Mastercard
• PayPal
• Venmo
• Zelle

Settlement fund

The $750,000 settlement fund will include:

• Settlement administration costs: Up to $88,000
• Attorneys' fees and costs: $210,000
• Service award to class representative: $3,000
• Payments to eligible class members: Remaining settlement funds

Important dates

• Opt-out deadline: Dec. 1, 2026
• Final approval hearing: Feb. 1, 2027

When is the PARS data breach settlement payout date?

The settlement administrator will issue payments to eligible class members approximately 60 days after the court grants final approval of the settlement.

Why is there a class action settlement?

This class action settlement resolves claims that Phase II Systems, d/b/a Public Agency Retirement Services, failed to adequately protect personal information, resulting in a March 2024 cyberattack that exposed sensitive data. PARS denies the allegations but agreed to settle to avoid the cost and uncertainty of further litigation.

The settlement also requires PARS to implement additional security measures.

Sources

1. Class notice
2. Settlement agreement
3. Settlement website FAQ page