Calculation of Settlement Payments. Payments to Authorized Former Participants and Current Participants shall be calculated by the Settlement Administrator in accordance with the Plan of Allocation as follows:
6.3.1 The Settlement Administrator shall obtain from Class Counsel, Defendants, or the Plans’ recordkeepers the quarter-ending account balances invested in the Plans’ investment options or the Plans for each Class Member during the Class Period, as well as data reflecting the allocation of new contributions among the Plans’ recordkeepers for each Current Participant as of January 14, 2021. Defendants agree to provide the necessary approvals authorizing transmission of such information to the Settlement Administrator.
6.3.2 Payments to Authorized Former Participants and Current Participants shall be calculated by the Settlement Administrator as follows:
1. The end-of-quarter balances for the Class Period of each Current Participant and each Authorized Former Participant are identified for each quarter;
2. All end-of-quarter balances identified in step 1 are summed together for each Current Participant and each Authorized Former Participant;
3. An average end-of-quarter balance for each Current Participant and each Authorized Former Participant is calculated for the Class Period (with a zero included as the balance for any quarter during which the individual did not participate in the Plan);
4. For each Current Participant and each Authorized Former Participant, the average end-of-quarter balance of step 3 is divided by the average end-of-quarter balance for the Class Period of all Current and Authorized Former Participants;
5. Each Current Participant and each Authorized Former Participant will receive the fraction of the total Net Settlement Amount which is calculated in step 4.
6.3.3 No amount shall be distributed to a Class Member that is ten dollars ($10.00) or less, because such an amount is de minimis and would cost more in processing than its value. All such amounts shall be retained in the Qualified Settlement Fund for distribution under Paragraph 6.13.
6.3.4 The Settlement Administrator shall determine the total settlement payment available to each Current Participants and Authorized Former
6.3.5 The Settlement Administrator shall complete all payment calculations for all Current Participants and Authorized Former Participants within thirty
6.3.6 The Settlement Administrator shall utilize the calculations required to be performed herein for (a) making the required payments to C...
Calculation of Settlement Payments. Payments to Authorized Former Participants and Current Participants shall be calculated by the Settlement Administrator in accordance with the Plan of Allocation as follows:
6.3.1 The Settlement Administrator shall obtain from Class Counsel, Defendant, or the Plans’ recordkeepers the quarter-ending account balances invested in the Plans’ investment options or the Plans for each Class Member during the Class Period, as well as data reflecting the allocation of new contributions among the Plans’ recordkeepers for each Current Participant as of March 31, 2021. Defendant agrees to provide the necessary approvals authorizing transmission of such information to the Settlement Administrator.
Calculation of Settlement Payments. Payments to Current Participants, Former Participants, Beneficiaries, or Alternate Payees, shall be calculated by the Settlement Administrator pursuant to the Plan of Allocation as follows:
1.5.1 The Settlement Administrator shall determine a “Settlement Allocation Score” for each Current Participant, Former Participant, Beneficiary, or Alternate Payee by: (i) determining the year-end account balances of each Current Participant and Former Participant during the Class Period, or, if a Beneficiary or Alternate Payee had a separate account in the Plan during the Class Period, by determining the year-end
1.5.2 If the dollar amount of the settlement payment to a Former Participant, or a Beneficiary or Alternate Payee who does not have an Active Account, is initially calculated by the Settlement Administrator to be $10.00 or less, then that person’s payment shall be $10.00. All such amounts shall be retained in the Settlement Fund for distribution under Paragraph 1.13.
1.5.3 The Plan’s Recordkeeper (or designees) shall provide the necessary data subject to its control as may be reasonably available and necessary to enable the Settlement Administrator to perform the above calculations.
1.5.4 The Settlement Administrator shall utilize the calculations required to be performed herein for: (a) making the required payments to Former Participants, and to Beneficiaries or Alternate Payees who do not have Active Accounts, under Paragraph 1.7 of this Plan of Allocation; and
Calculation of Settlement Payments. Payments to Authorized Former Participants and Current Participants shall be calculated by the Settlement Administrator as follows:
6.4.1 The Settlement Administrator shall obtain from the Plan’s recordkeeper the quarter-ending account balances, quarter-ending balances invested in the Vanguard Prime Money Market Fund (“MMF”), and the quarter- ending balances invested in the Principal Diversified Real Asset Fund (“Principal Fund”) for each Class Member during the Class Period.
6.4.2 The Net Settlement Amount shall be divided into three portions based on the alleged damages: (1) 47% to the Money Market Fund Portion (“MMF Portion”); (2) 47% to the Recordkeeping and Investment Fee Portion (“Fee Portion”); and (3) 6% to the Principal Fund Portion (“Principal Fund Portion”).
6.4.3 The MMF Portion will be allocated among Class Members during the Class Period as follows: a percentage of the MMF Portion that is the product of the sum of the participant’s quarter-ending account balances invested in the MMF for each quarter during the Class Period divided by the sum of quarter-ending net asset value of the MMF for each quarter during the Class Period.
6.4.4 The Fee Allocation will be allocated among Class Members during the Class Period as follows: a percentage of Fee Portion that is the product of the sum of the participant’s quarter-ending total account balances for each quarter during the Class Period divided by the sum of the quarter-
6.4.5 The Principal Fund Portion will be allocated among Class Members during the Class Period as follows: a percentage of the Principal Fund Portion that is the product of the sum of the participant’s quarter-ending account balances invested in the Principal Fund for each quarter during the Class Period divided by the sum of the quarter-ending net asset value of the Principal Fund for each quarter during the Class Period.
6.4.6 No amount shall be distributed to a Class Member that is five dollars ($5.00) or less, because such an amount is de minimis and would cost more in processing than its value. All such amounts shall be retained in the Qualified Settlement Fund for distribution under Paragraph 6.13.
6.4.7 The Settlement Administrator shall determine the total settlement payment available to each Authorized Former Participant and Current Participant by calculating each such participant’s share of the Net Settlement as set forth above.
6.4.8 The Settlement Administrator shall utilize the calculations required to be performed here...
Calculation of Settlement Payments. Payments to Authorized Former Participants and Current Participants shall be calculated by the Settlement Administrator in accordance with the Plan of Allocation as follows:
6.6.1 The Settlement Administrator shall obtain from Class Counsel or the Plans’ recordkeepers a list of Current and Former Participants who invested in the TIAA-CREF Lifecycle Funds between August 17, 2010 an April 17, 2012. Defendants agree to provide the necessary approvals authorizing transmission of such information to the Settlement Administrator.
6.6.2 Payments to the Authorized Former Participants and Current Participants shall be calculated by the Settlement Administrator on a per-capita basis by dividing the Net Settlement Amount by the number of Current Participants and Authorized Former Participants.
6.6.3 The Settlement Administrator shall determine the total settlement payment available to each Current Participants and Authorized Former Participant by calculating each such participant’s share of the Net Settlement as set forth above.
6.6.4 The Settlement Administrator shall complete all payment calculations for all Current Participants and Authorized Former Participants within thirty (30) business days after the Settlement Effective Date.
6.6.5 The Settlement Administrator shall utilize the calculations required to be performed herein for (a) making the required payments to Current Participants and Authorized Former Participants under Paragraphs 6.7, and 6.10 of the Settlement Agreement; and (b) instructing the Plans as to the amounts to be
Calculation of Settlement Payments. Payments to Authorized Former Participants and Current Participants (including Beneficiaries and Alternate Payees) shall be
6.4.1 For each Authorized Former Participant and Current Participant, the Settlement Administrator shall determine an
Calculation of Settlement Payments. Payments to Settlement Class Members shall be calculated by the Settlement Administrator in accordance with the Plan of Allocation as follows:
6.3.1 The Settlement Administrator shall obtain from Miami or the Plans’ recordkeepers the quarter-ending account balances invested in the Plans for each Settlement Class Member during the Settlement Class Period. Miami agrees to provide the necessary approvals authorizing transmission of such information to the Settlement Administrator.
Calculation of Settlement Payments. Payments to Current Participants and Former Participants shall be calculated by the Settlement Administrator pursuant to the Plan of Allocation as follows:
Calculation of Settlement Payments. 6.2.1 Upon determining the Net Settlement Amount in accordance with the preceeding sections, the Settlement Administrator shall divide the Net Settlement Amount into 24 equal Quarterly Settlement Allocations.
6.2.2 Each Quarterly Settlement Allocation will be allocated proportionally based on each Class Member's account balance at the close of each quarter of the Class Period (that Class Member's “Quarterly Balance”).
6.2.3 For each quarter of the Class Period, the settlement administrator shall, calculate the total of all Quarterly Balances for that quarter. For each Class Member who had a balance in a given quarter, the Settlement Administrator shall divide that Class Member’s Quarterly Balance for such quarter by the total Quarterly Balances for such quarter where (i.e. the numerator is the Class Member's Quarterly Balance for a given quarter and the denominator is the sum of all Class Members' Balances for that quarter). This is each Class Member’s Quarterly Proportion.
6.2.4 The Settlement Administrator shall then multiply each Class Member’s Quarterly Proportion for a given quarter by the Quarterly Settlement
6.2.5 The Settlement Administrator shall then add all the Quarterly Payments for each respective Class Member, resulting in the Class Member Total Payment. Class Members other than Class Representative who no longer have an account in the Plan and who have a Class Member Total Payment of less than $10 (ten dollars) (the "De Minimis Amount") shall receive no allocation from the Net Settlement Amount. The Settlement Administrator shall then, taking into account the Class Members who will receive nothing because they do not satisfy the De Minimis Amount, recalculate the amount to distribute to Class Members to arrive at the amount ot be paid to each remaining Class Member. The amounts paid to each individual Class Member is referred to as the Payment. The sum of the Payments must equal the Net Settlement Amount.
Calculation of Settlement Payments. Payments to Class Members shall be calculated by the Settlement Administrator pursuant to the Plan of Allocation as follows:
