What will happen if the total amount of the valid claims that are submitted exceeds the amount of the settlement fund?
If the total amount of valid claims exceeds the amount available in the settlement fund, the balance of the settlement fund will be distributed to Class Members on a pro rata basis. The pro rata distribution is determined by dividing the balance of the settlement fund (after deduction of any Court-approved disbursements) by the aggregate amount of valid claims. This will result in a fraction that will be applied to reduce the amount of Class Members’ claims so that they can be paid from the remaining balance of the settlement fund.
Related Questions
- Why do the new fund descriptions in the enrollment guide include estimated total fees for each fund? Are there similar fees associated with the funds currently offered in the plan?
- What will happen if the total amount of the valid claims that are submitted exceeds the amount of the settlement fund?
- What processes are in place to ensure the carrier has submitted a valid freight bill?
