.png)
Participants in or beneficiaries of the SCI 401(k) plan at any time between July 7, 2016, and April 30, 2026, may be eligible to receive a cash payment from a class action settlement.
SCI Shared Resources LLC and Service Corp. International agreed to pay $2 million to resolve a class action lawsuit alleging breaches of fiduciary duty under the Employee Retirement Income Security Act. The lawsuit claimed the companies failed to properly manage the SCI 401(k) plan, resulting in excessive administrative fees and imprudent investment options.
Who are the class members?
The settlement class includes all individuals who were participants in or beneficiaries of the SCI 401(k) plan at any time between July 7, 2016, and April 30, 2026, and had an account balance in the plan during this period.
This includes current and former participants, beneficiaries of deceased participants and alternate payees under a qualified domestic relations order.
The class is mandatory so the settlement automatically includes eligible individuals and they cannot opt out.
How much is the payout?
The total settlement fund is $2 million. After deducting court-approved attorneys' fees and costs, administrative costs and service awards to the class representatives, the settlement administrator will distribute the remainder to class members.
The administrator will determine each class member's share by comparing their average account balance in the plan during the class period to the total of all class members' average account balances. Each class member's share = (their average account balance / total of all class members' average account balances) × net settlement fund (after deductions)
If a former participant's calculated share is less than $25, they will not receive a payment.
No claim form necessary to receive payment
Class members do not need to file a claim or take any action to receive their payment. The settlement administrator will automatically calculate each eligible class member's share and distribute it.
- Current participants with an active account will receive their payment as a deposit into their SCI 401(k) plan account.
- Former participants will receive a check mailed to the address the settlement administrator sent the class notice.
Those whose address has changed can update it with the settlement administrator in several ways:
- Online
- By emailing info@scierisasettlement.com (include "change of address" in the subject line and provide the class member's full name, previous address, current address and notice ID)
- By mailing the above information to McWhorter v SCI, c/o Settlement Administrator, PO Box 23309, Jacksonville, FL 32241
Payout options
- Current participants: SCI will deposit their payment into the SCI 401(k) plan account.
- Former participants: The settlement administrator will mail their payment to the last known address unless they update it.
$2 million settlement fund breakdown
The $2,000,000 settlement fund includes:
- Settlement administration costs: To be determined
- Attorneys' fees: Up to $660,000
- Attorneys' expenses: To be determined
- Service awards to class representatives: Up to $10,000 each ($20,000 total)
- Payments to eligible class members: Remainder of the net settlement fund
Important dates
- Final fairness hearing: Sept. 8, 2026
When is the SCI 401(k) plan class action settlement payout date?
The settlement administrator will distribute 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 SCI Shared Resources LLC and Service Corp. International, as fiduciaries of the SCI 401(k) plan, failed to properly manage it by allowing excessive administrative fees and including imprudent investment options.
The defendants deny all allegations of wrongdoing but agreed to settle to avoid the cost, risk and disruption of further litigation.
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.svg)