This page provides the answers to class members’ most frequently asked questions.
The information provided is in summary form and is not intended as a complete explanation of your rights. For full and complete information, you are directed to review carefully the Notice of Class Action Settlement.
A lawsuit was filed in the United States District Court for the Southern District of Texas Houston Division. The lawsuit alleges that CenterPoint violated the Employee Retirement Income Security Act of 1974 (“ERISA”)—the federal law that governs certain retirement plans in the United States. The people who are pursuing the lawsuit (“Plaintiffs”) claim that the CenterPoint paid higher recordkeeping and administrative fees than necessary. Plaintiffs also alleged that CenterPoint failed to monitor the Committee that was responsible for monitoring the Plan’s fees. CenterPoint denies the allegations, claims, and contentions of Plaintiffs, denies that it is liable at all to the Class, and denies that the Class or the Plan have suffered any harm or damage. CenterPoint has asserted, and would assert if the lawsuit continues, a number of defenses.
The Parties have agreed to the Settlement after extensive negotiations. By agreeing to the Settlement, the Parties avoid the costs and risks of further litigation, and Plaintiffs and other members of the Settlement Class will receive compensation. Class Counsel have reviewed the evidence in the case and the risks and benefits of continued litigation, and they believe the Settlement is in the best interest of all class members. The Court has not found any wrongdoing by CenterPoint.
Plaintiffs and CenterPoint have agreed to a settlement that involves payments to participants. These and other terms of the Settlement are described in the Settlement Agreement dated November 4, 2025, and described briefly below.
As part of the Settlement, Defendants have agreed to make a one-time payment of $800,000 into a qualified settlement fund (the “Settlement Amount”). After deduction of any amounts the Court approves to pay settlement-related expenses (including Attorneys’ Fees and Expenses to Class Counsel, fees for hiring an Independent Fiduciary, Administration Costs, and Taxes and Tax-Related Costs), and any amounts to the Class Representatives as case contribution awards, the remaining amount (known as the “Net Settlement Amount”) will be paid to Settlement Class Members. Settlement Class Members are people (except CenterPoint and members of its Board or Directors and the Committee) who were participants in or beneficiaries of the Plan from August 7, 2018 through November 25, 2025. The Parties have agreed that no distribution will be made to Settlement Class Members who would otherwise be entitled to a payment of $5 or less. The Plan of Allocation is posted here.
Settlement Class Members who have money in their Plan account as of November 1, 2025 will receive any distribution through a deposit into their Plan account. To the extent feasible, that money will be invested in accordance with each Settlement Class Member’s instructions for investment of new contributions at the time the distribution is made, or, if no such instructions are in effect, to the applicable qualified default investment option. Settlement Class Members who do not have a Plan account as of November 1, 2025 will receive a check from the Settlement Administrator. To the extent any Settlement Class Member no longer has a Plan account for any reason at the time of distribution of the Settlement proceeds, such Settlement Class Member will receive a check from the Settlement Administrator. Further, the Parties have agreed that no distribution will be made to Settlement Class Members who are Former Participants and would otherwise be entitled to a payment of $5 or less. The Plan of Allocation is posted here.
If the Settlement is approved by the Court and you are a member of the Settlement Class, you will not need to file a claim to receive a Settlement payment if you are entitled to one.
The Settlement cannot be completed unless and until several events occur. These events include final approval of the Settlement by the Court, approval of the Settlement by an independent fiduciary to the Plan, transfer of the Net Settlement Amount to the Plan, and calculation of the amount of the Settlement owed to each Settlement Class member. If objections are made to the Settlement or appeals are taken by objectors who oppose the approval of the Settlement, this process may take a long time to complete, possibly several years.
There will be no payments if the Settlement Agreement is terminated.
The Settlement does not allow Settlement Class Members to exclude themselves from the settlement or decide not to be a part of the Settlement. While some class action settlements allow class members to “opt out” of the settlement, because of the nature of the claims Plaintiffs have asserted in this lawsuit, Settlement Class Members do not have a right to opt out. If you dislike some portion of the Settlement, your only recourse is to object to the Settlement.
Settlement Class Members can object to the Settlement and give reasons why they believe that the Court should not approve it. To object, you must send your objection to the United States District Court For The Southern District Of Texas Houston Division, 515 Rusk Street, Houston, TX 77002.
Objections must be filed with the Court Clerk on or before May 8, 2026.
See the Notice for complete instructions.