Violation Tracker Individual Record

J.P. Morgan Chase Retirement Plan
Current Parent Company: 
JPMorgan Chase
July 15, 2010
Offense Group: 
employment-related offenses
Primary Offense: 
benefit plan administrator violation
Secondary Offense: 
pension ERISA violation
Violation Description: 

A group of participants in the JPMorgan retirement plan filed suit under the Employee Retirement Income Security Act (ERISA), claiming that the bank used cash balance formulas that discriminated based on age. The court certified a class, but because of uncertainty about who was responsible for the problem there was no monetary award to class members other than $4,957 in expenses paid to four class representatives; $600,000 in legal fees were paid to the plaintiffs' lawyers.

Level of Government: 
Action Type: 
private litigation
Southern District of New York
Civil or Criminal Case: 
Case ID: 
Case Name: 
Wilson v. J.P. Morgan Chase Retirement Plan et al
Private Lawsuit Resolution Type: 
HQ Country of Parent: 
HQ State of Parent: 
New York
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
Link to PACER Case Docket (must be logged in): 
Link to Archived Court Document: 
Source Notes: 
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Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.