Who Gets What? Allocation Formula Favors Longevity
Charles Field, co-lead counsel for Snyder and the class, told Law360 that Judge Tunheim’s only questions during the hearing concerned two letters from plan participants about the payout distribution. Field explained that the allocation formula accounts for time in the plan and investment in the challenged funds.
“If participants were in the plan a long time and nearing retirement, they’re likely to receive more,” Field said.
Snyder herself flew in from Detroit to attend the hearing, having played an active role through four years of rigorous litigation.
“She wanted to see that her hard work paid off,” Field added. “I couldn’t ask for a better client.”
From Class Certification to Settlement
In February 2022, Judge Tunheim granted class certification, allowing Snyder to represent the affected group of UnitedHealth employees dating back to April 23, 2015. Then, in March 2024, the judge largely denied UnitedHealth’s motion for summary judgment, ruling that key facts remained disputed.
With trial looming, the parties reached a deal and asked the court for final approval earlier this month.
