PLEASE READ THIS WEBSITE CAREFULLY AS IT MAY AFFECT YOUR RIGHTS
A federal Court has authorized this Notice. This is not a solicitation from a lawyer.
If you received a Notice of Class Action Settlement (“Notice”) it is because the records of the Talen Energy Retirement Plan (the “Plan”) and of your former employer indicate that you were a participant in the Plan whose employment ended during the period June 1, 2015, through December 5, 2019 (the “Class Period”). As such, your rights may be affected by a proposed settlement of this class action lawsuit (the “Settlement”). Please read the following information carefully to find out what the Class Action is about, what the terms of the proposed Settlement are, what rights you have to object to the proposed Settlement Agreement if you disagree with its terms, and what deadlines apply.
This website contains summary information about the Settlement. The complete terms and conditions of the Settlement are set forth in a Settlement Agreement (“Settlement Agreement”). Capitalized terms used in the Notice, but not defined on this website, have the meanings assigned to them in the Settlement Agreement. The Settlement Agreement, and additional information about this lawsuit and the Settlement, are available in the Documents section of this website.
The Court in charge of this case is the United States District Court for the Eastern District of Pennsylvania. The persons who sued on behalf of themselves and the Class are called the “Class Representatives,” and the people they sued are called “Defendants.” The Class Representatives are Annette M. Durnack, Anne W. Fiore, Timothy G. Wales, and Jeffrey S. Weik. The Defendants are Retirement Plan Committee of Talen Energy Corporation (now known as Talen Energy Retirement Plan Committee), Talen Energy Retirement Plan, Talen Energy Corporation, and Talen Energy Supply, LLC. The case is known as Durnack, et al. v. Retirement Plan Committee of Talen Energy Corp., et al., Civil Action No. 5:20-cv-5975-JLS (E.D. Pa).
| YOUR LEGAL RIGHTS AND OPTIONS UNDER THE SETTLEMENT | |
| YOU ARE NOT REQUIRED TO FILE A CLAIM IF YOU ARE ENTITLED TO A PAYMENT UNDER THE SETTLEMENT AGREEMENT. | If the Settlement is approved by the Court, and if you are a Class Member who is entitled to receive a Settlement payment under the Settlement Agreement, you will not need to file a claim in order to receive the payment. |
| HOW SETTLEMENT PAYMENTS WILL BE DISTRIBUTED. | If you have already received or started receiving your pension benefits from the Plan, in the form of either an annuity or a lump sum payment, or if you have not yet started receiving your pension benefits from the Plan, your share of the Net Settlement Amount will be eligible for rollover to an Individual Retirement Account or to another employer-sponsored plan in which you participate and that accepts rollover contributions. All Class Members must complete and return the enclosed Rollover Election Form by July 1, 2024 to state whether you want to (a) arrange a rollover of your payment to an IRA or employer plan, or (b) receive a direct payment to you that is immediately taxable. If you choose a rollover and the administrative burdens and costs are not unreasonable and security protocols are satisfied, your rollover payment will be distributed by electronic transfer to the financial institution or employer plan which will receive the rollover. Otherwise, your rollover payment will be distributed by mailing you a check payable to your institution. If you do not choose a rollover, a check payable to you personally will be mailed to your address. Please carefully read the enclosed Special Tax Notice regarding your payment options and their tax consequences.
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YOU MAY OBJECT TO THE SETTLEMENT BY MAY 20, 2024.
| If you wish to object to any part of the Settlement, you may (as discussed below) write to the Court and the attorneys for the Parties stating why you object to the Settlement. |
YOU MAY ATTEND THE FAIRNESS HEARING TO BE HELD ON JUNE 3, 2024 AT 10:00 A.M. | If you submit a written objection to the Settlement to the Court and the attorneys before the Court-approved deadline (May 20, 2024), you may (but do not have to) attend the Fairness Hearing about the Settlement and present your objections to the Court. You may attend the Fairness Hearing even if you do not file a written objection, but you will only be allowed to speak at the Fairness Hearing if you file a written objection by the deadline in advance of the Fairness Hearing AND you file a Notice of Intention To Appear.
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- These rights and options—and the deadlines to exercise them—are explained later in the FAQ section of this website.
- The Court still must decide whether to approve the Settlement. Payments will be made only if the Court approves the Settlement and that approval is upheld in the event of any appeal.
Class Counsel has established a toll-free telephone number to receive your comments and questions: (833) 425-9595. You may also send an email to [email protected]. In the subject line please write “Talen Settlement.” You should contact Class Counsel with any questions regarding this Settlement, not the Court, Defendants, including Talen Energy, or Defense Counsel.
Further information regarding this Class Action and this Notice may be obtained by contacting the following Class Counsel:
Alan M. Sandals
SANDALS & ASSOCIATES, P.C.
P.O. Box 385
Washington Depot, CT 06794
Email: [email protected]
Class Counsel has established a toll-free telephone number to receive your comments and questions: (833) 425-9595. You may also send an email to [email protected]. In the subject line please write “Talen Settlement.” You should contact Class Counsel with any questions regarding this Settlement, not the Court, Defendants, including Talen Energy, or Defense Counsel.
This website is authorized by the Court, supervised by counsel to the parties, and controlled by the Settlement Administrator approved by the Court. This is the only authorized website for this case.
For more information please call 833-425-9595.