.png)
Participants in the Ricoh USA Inc. retirement savings plan at any time between Feb. 22, 2016, and March 24, 2026, may be eligible to receive a cash payment from a class action settlement.
Ricoh USA Inc. agreed to pay $1.75 million to settle a class action lawsuit alleging it violated federal law when managing its retirement savings plan. The suit claimed Ricoh and related parties failed to properly manage plan fees, offered an imprudent investment option and misused certain plan funds.
Who are the class members?
The class includes:
- Anyone who participated in the Ricoh USA Inc. retirement savings plan at any time from Feb. 22, 2016, through March 24, 2026
- Any beneficiary of a deceased person who participated in the plan during that period
- Any alternate payee of a person subject to a qualified domestic relations order who participated in the plan during the class period
The settlement administrator will use plan records to identify eligible class members.
How much can class members get?
The total settlement fund is $1,750,000. However, the amount each class member will receive depends on several factors. After deducting attorneys' fees and costs, service awards for the lead plaintiffs and administrative expenses, the settlement administrator will distribute the remaining amount among eligible class members.
Each class member’s share is based on their account balances during the class period. The more a participant invested in the plan during that time, the larger their share of the settlement. The settlement administrator will use plan records to determine each person's share.
- Current participants will receive their share directly into their plan account.
- Former participants will receive a paper check if their calculated share is more than $9.99.
No action needed to receive compensation
Class members do not need to file a claim to receive their share of the settlement. The settlement administrator will use plan records to identify eligible individuals and calculate their awards. If a participant has moved or believes their contact information is outdated, they should contact the settlement administrator to update their address.
Settlement administrator's mailing address: Ricoh ERISA Settlement, P.O. Box 2009, Chanhassen, MN 55317-2009
Settlement administrator's phone number: 855-294-0138
Settlement administrator's email address: RicohERISA@noticeadministrator.com
Payout options
- Current participants: Ricoh USA will deposit their payment directly into the plan account.
- Former participants: Ricoh USA will mail a paper check to the last known address (unless the class member updates it) if the calculated share is more than $9.99.
$1.75 million settlement fund breakdown
The $1,750,000 settlement fund will cover:
- Settlement administration costs: Amount not specified
- Attorneys' fees: Up to $583,333.33
- Attorneys' expenses: Up to $50,000
- Service awards to class representatives: Up to $5,000 each for four named plaintiffs (up to $20,000 total)
- Payments to approved class members: The remainder of the fund
Important dates
- Fairness hearing: Oct. 8, 2026, at 9:30 a.m.
When is the Ricoh ERISA settlement payout date?
The settlement administrator will issue payments after the court resolves any appeals and grants final approval of the settlement.
Why is there a class action settlement?
The class action lawsuit alleged Ricoh USA Inc. and related defendants breached their fiduciary duties under the Employee Retirement Income Security Act by:
- Failing to prudently monitor and control recordkeeping fees charged to plan participants
- Offering an allegedly imprudent investment option (the Ricoh stable value fund)
- Improperly using forfeited employer contributions to offset other employer contributions instead of paying plan expenses
Ricoh denied all allegations and any wrongdoing. The parties reached the settlement to avoid the uncertainty, expense and risks of continued litigation.
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.svg)