Every dollar amount and date on this page is quoted from the official settlement document.
U.S. Bank $250,000 ERISA 401(k) Fees Class Action Settlement
Court case: Dionicio et al. v. U.S. Bancorp et al.
If you had money in the U.S. Bank 401(k) Savings Plan any time from January 5, 2017 through the date of the court's final approval, you're a class member in Dionicio et al. v. U.S. Bancorp et al. (Case No. 0:23-cv-00026-PJS-DLM, U.S. District Court for the District of Minnesota) — no claim form needed. U.S. Bank will pay a $250,000 gross settlement fund resolving ERISA breach-of-fiduciary-duty claims over the plan. Current participants get their share deposited directly into their existing plan account; former participants get a check if their share is $25 or more. A Fairness Hearing is set for August 19, 2026.
Official eligibility wordingAll participants and beneficiaries of the U.S. Bank 401(k) Savings Plan from January 5, 2017 through the date of final approval of the Settlement. Checked against the official settlement source by SettleSignal on June 17, 2026.
Key facts
- Who may qualify You're covered if you participated in, or are a beneficiary of, the U.S. Bank 401(k) Savings Plan at any time from January 5, 2017 through the date the court grants final approval — this is the Class Period. Excluded are the named Defendants and any plan fiduciary who is also a participant or beneficiary. There's no claim form and no opt-out: the class was certified under Rule 23(b)(1), which doesn't allow class members to exclude themselves from the settlement.
- Estimated payout$250,000 gross settlement fund
- Objection deadlineAugust 5, 2026 (passed)
- Proof requiredNo
- What you needNothing to file. If you were a plan participant or beneficiary between January 5, 2017 and final approval, you're automatically included — the settlement administrator calculates your share from Plan records and pays it out with no claim form, no proof, and no action needed on your part.
- CourtU.S. District Court for the District of Minnesota
How hard is this claim to file?
Watch out for
- You cannot opt out of this settlement — exclusion is not an option.
- Objections must be postmarked by August 5, 2026.
- The $250,000 gross settlement fund is shared among all class members — individual amounts aren't stated in the document.
- The class period runs through the date of final approval, which hasn't happened yet, so the end date isn't fixed.
We prepare — you file on the official site yourself. This is not legal advice and is not an eligibility decision; the administrator and court decide.
Verify it yourself
How we verified this record
- Payout details
- Eligibility
- Proof requirement
- Administrator
- Court case
- 3 fields queued for re-check
4 official sources linked to this record.
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Eligibility summary Quoted in the official eligibility wording above ↑
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Proof requirement
No
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Estimated payout
$250,000 gross settlement fund
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Administrator
Notice Administrator (USBank401k@noticeadministrator.com)
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Court
U.S. District Court for the District of Minnesota
Show all 6 more verified fields
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Objection deadline
August 5, 2026
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Automatic refund
Yes — automatic, no claim needed
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Class period start
January 5, 2017
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Court case number
0:23-cv-00026-PJS-DLM
Case No. 0:23-cv-00026-PJS-DLM (D. Minn.)
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No-claim explanation
Automatic distribution — no claim form needed; payments go directly to eligible plan participants.
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Case name
Dionicio et al. v. U.S. Bancorp et al.
Where to act
No claim form is needed — Notice Administrator (USBank401k@noticeadministrator.com) issues this refund automatically; confirm your eligibility and contact details on the official source.
No claim needed — payment is automatic
If you qualify, the settlement pays you automatically. There's nothing to file — just keep an eye on your mail or account around the payment date.
