Frequently Asked Questions

The Court ordered the Notice to be sent to you because you have been identified as a member of the Settlement Class in the above-captioned class action lawsuit. As a result, you have a right to know about the proposed settlement, know about your rights and obligations under it if it is approved, and know about your right to object to it or aspects of it before it is submitted to the Court for final approval. You are also entitled to know information about the settlement benefit you would receive if the Court gives final approval to the settlement.

This is a class action lawsuit under the Employee Retirement Income Security Act of 1974 (“ERISA”) filed by Jon Hoak, Anthony Fano, Allan Quick, and Patricia Giering (the “Plaintiffs”), who are former participants in or beneficiaries of one or more of five nonqualified retirement plans sponsored by NCR Corporation (the “Plans”). These five Plans are: (1) the NCR Senior Executive Retirement, Death and Disability Plan; (2) the Retirement Plan for Officers of NCR; (3) the NCR Nonqualified Excess Plan; (4) the NCR Mid-Career Hire Supplemental Pension Plan; and (5) the NCR Supplemental Pension Plan for AT&T Transfers. Each of the Plans promised participants the accrued benefit of a lifetime annuity—fixed periodic payments for the remainder of their lives—either in the form of a single life or a joint and survivor annuity. NCR terminated all five Plans in 2013 and distributed all benefits in the form of lump-sum payments.

Plaintiffs alleged that NCR breached the terms of the Plans by converting participants’ promised lifetime annuities to lump-sum payments. Instead of purchasing replacement annuities for participants or providing them with amounts sufficient to purchase equivalent replacement annuities, NCR paid participants lump sums calculated using a 5% discount rate based on NCR’s bond interest rate. The lump sums were less than the cost of replacement annuities. 

In February 2024, after eight years of extensive litigation, the Court granted Plaintiffs’ motion for summary judgment and denied NCR’s motion for summary judgment. The Court found that NCR breached the terms of the Plans when it converted participants’ life annuities to lump-sum payments, and that the Plans required NCR to provide participants with replacement life annuities or amounts sufficient to purchase such replacement annuities upon Plan termination.

In June 2024, the Court entered an order granting relief to Plaintiffs and the Class, which ordered NCR (1) to calculate the estimated cost of replacement annuities at the time of Plan termination using the discount rate and mortality assumptions prescribed by the Pension Benefit Guaranty Corporation (“PBGC Assumptions”); (2) to calculate the damages due to each Class Member as the estimated replacement annuity cost less the amount of benefits already paid; and (3) to add prejudgment interest and post-judgment interest. On the same day, the Court entered a final judgment in favor of Plaintiffs and the Class (the “2024 Judgment”).

NCR appealed to the United States Court of Appeals for the Eleventh Circuit. In August 2025, the Eleventh Circuit affirmed the Court's 2024 Judgment in full. In February 2026, the Eleventh Circuit sent the case back to the Court for resolution of all remaining issues.

In a class action, one or more persons called “Plaintiffs” or “Class Representatives” sue on behalf of themselves and other people who have similar claims. Together, these people are called a “Class” or “Class Members.” In a class action, one judge resolves the issues for all Class Members, except for those who request exclusion from the Class.

After the Eleventh Circuit affirmed the 2024 Judgment, several disputes remained between Plaintiffs and the Plan Administrator of the Plans of NCR Corporation (the “Parties”). NCR provided calculations reflecting the amounts it believed it owed to members of the Class under the Court’s 2024 Judgment. Plaintiffs disputed NCR’s calculations in several respects, contending that the proposed payments were too low. Additionally, the Parties had an unresolved dispute over the Class’s potential entitlement to a discretionary award of attorneys’ fees and costs under ERISA.

The Parties recognized that continued litigation of these disputes would consume substantial time and financial resources, require the Court to consider and resolve multiple contested motions, and materially delay payments to Class Members. The Parties also recognized that there was uncertainty in how the Court would resolve their disputes, creating substantial additional risk for both sides. Accordingly, the Parties agreed to settle all remaining issues in the case. Plaintiffs and Class Counsel believe the settlement is in the best interest of all Class Members.

The Settlement Class is defined as: “All former participants in the Plans, their eligible spouses, and their beneficiaries—other than the Excluded Persons—who received or were entitled to receive lump sum payments from NCR as a result of the termination of the Plans.”The persons in the Settlement Class are identified by name in Exhibit 1 to the Settlement Agreement. If your name is on the Notice, you have been identified as a Class Member.

NCR will pay a total of $47,750,000 (the “Settlement Amount”) to fully and finally resolve all Class Member disputes related to the implementation of the 2024 Judgment, as well as all Class Member disputes related to attorneys’ fees and costs potentially awardable to any of them. The Settlement Amount is an all-in settlement number, meaning that it includes all amounts of any kind payable to Class Members. Class Counsel estimate that the Settlement Amount represents roughly 109.7% of the damages that Class Members would have been entitled to receive under the 2024 Judgment as of April 1, 2026—the day after the Parties agreed in principle to the Settlement Amount. 

Each Class Member’s share of the Settlement Amount is based on a calculation under the Court’s 2024 Judgment, which was agreed to by the Parties with the assistance of their actuaries:

• Damages Settlement Allocation: Each Class Member’s damages have been calculated as (1) the replacement annuity cost for each participant, less the amount of benefits already paid to each participant; (2) prejudgment interest as ordered by the Court; and (3) post-judgment interest through April 1, 2026. The Damages Settlement Allocations for all Class Members sum to $43,515,031.50.
• Additional Settlement Allocation: The balance of the Settlement Amount—$4,234,968.50—reflects the Parties’ compromise as to Class Members’ potential entitlement to statutory attorneys’ fees and costs under ERISA. This amount is allocated among Class Members in proportion to each Class Member’s Damages Settlement Allocation.
• Settlement Allocation: Each Class Member’s Damages Settlement Allocation plus Additional Settlement Allocation yields a Class-Member-specific Settlement Allocation. Exhibit 2 to the Parties’ Settlement Agreement lists each Class Member’s allocations. The publicly available version of Exhibit 2 is redacted to protect Class Members’ sensitive financial information. Your specific Settlement Allocation is provided at the top of the Notice.

Before the Final Fairness Hearing, Class Counsel will file a motion seeking an award of attorneys’ fees and costs under the common-fund doctrine (the “Fee and Cost Award”). Class Counsel will seek attorneys’ fees of up to 33% of the Settlement Amount and reimbursement of out-of-pocket expenses up to $400,000, such that the total Fee and Cost Award does not exceed 34% of the Settlement Amount.

Prior to distribution, each Class Member’s Settlement Allocation will be reduced by any Court-approved Fee and Cost Award in proportion to his or her Settlement Allocation, yielding a Settlement Net Payment for each Class Member. You will be informed of your specific Settlement Net Payment amount as part of the settlement administration process, after the Court determines Class Counsel’s Fee and Cost Award, but your Settlement Allocation will not be reduced by more than 34%. Please note that payments made under the settlement may be subject to applicable tax withholding and reporting requirements.

You do not need to file a claim form or provide any documentation to support the amount of your settlement payment because the Parties and their actuarial experts have already calculated your Settlement Allocation. Each Class Member—or in the case of a deceased Class Member, the appropriate Successor(s)—has the right to collect that Class Member’s Settlement Net Payment from the Settlement Fund, subject only to commercially reasonable verification by the Settlement Administrator that the person seeking to receive the payment is in fact the Class Member or an appropriate Successor. 

To receive a payment, you should contact the Settlement Administrator, provide your Settlement ID # from the top of the Notice, and securely provide documentation verifying your identity (if a Class Member) or your authority to receive the payment on behalf of a deceased Class Member’s estate (if a Successor). You will also need to provide the Settlement Administrator with a completed and executed IRS Form W-9 or alternative IRS Form.

If and when the Court grants final approval to the settlement and determines Class Counsel’s Fee and Cost Award (“Finality”), the Settlement Administrator will begin distributing Settlement Net Payments from the Settlement Fund on a rolling basis to Class Members and Successors. For living Class Members, the Settlement Administrator will have up to 91 days after Finality to issue Settlement Net Payments (though payments will be issued shortly following receipt of verification). For Successors of deceased Class Members who must take additional steps to perfect the Successors’ right to receive a Settlement Net Payment (e.g., reopening an estate), Successors or their authorized representatives must initiate the necessary steps to receive the Settlement Net Payment within 91 days after Finality. For Successors who initiate such steps, the Settlement Administrator shall have up to 182 days after Finality to issue Settlement Net Payments (though payments will be issued shortly following receipt of verification).

The Settlement Administrator will issue checks or other instruments to Class Members and Successors in an amount equal to their applicable Settlement Net Payment. Class Members and Successors will be given 90 days to deposit or cash any checks, as well as an additional 30 days to request re-issuance of a check that cannot be deposited or cashed within the original 90 days.

If you have questions about the payment procedure, you can contact the Settlement Administrator. If the Settlement Administrator is unable to fully answer your questions, you can contact Class Counsel.

If the information on your Notice (such as your name or address) is not correct, please contact the Settlement Administrator promptly to update your information.

If the Class Member to whom the Notice is addressed is deceased, the settlement benefit that the Class Member would have received will instead be paid to the Class Member’s Successor(s)—that is, the person or persons who have the legal right to receive the Settlement Net Payment on behalf of the deceased Class Member. To receive a Settlement Net Payment as the Successor of a deceased Class Member, the person claiming a right to receive payment must submit to the Settlement Administrator a completed Successor verification form, together with documentation sufficient to establish that the claimant has legal authority to receive the payment on behalf of, or as the beneficiary of, the deceased Class Member’s estate or trust.

If the Notice was addressed to a Class Member who is deceased, please promptly contact the Settlement Administrator or Class Counsel to inform them of that fact.

If the settlement becomes final, Class Members agree to release all actual and potential claims for relief, disputes, and entitlements they may have against NCR and NCR-affiliated persons or entities (the “Released Parties”) arising out of or related to the Plans, the lawsuit, and the 2024 Judgment—including any claims for attorneys’ fees and costs potentially awardable to any of them—as well as the handling and distribution of the Settlement Fund (together, the “Released Claims”). Class Members will have the right to enforce the terms of the Settlement Agreement.

The Settlement Agreement describes the Released Claims and Released Parties in more detail. Please read it carefully. You can find it on the Documents tab, or you may contact Class Counsel for a copy.

Yes. Any Class Member who wishes to be excluded from the Settlement Class must deliver to the Settlement Administrator a written and signed statement designated “Request for Exclusion.”

Your Request for Exclusion must: (1) provide the name, address, telephone number, and email address (if available) of the person whose exclusion is sought; (2) indicate that the person whose exclusion is sought does not wish to participate in or be bound by the settlement; and (3) be signed individually by the person whose exclusion is sought, or by a duly appointed representative with actual authority. If the Request for Exclusion is on behalf of a person who is deceased, it additionally must: (4) provide a death certificate and the date of death; (5) provide the name, address, telephone number, and email address (if available) of the person seeking exclusion on behalf of the deceased; and (6) provide documentation establishing the requesting person’s authority to make the exclusion request on behalf of the deceased.

The Request for Exclusion must be delivered to the Settlement Administrator by mail or email at the addresses below and must be received on or before SEPTEMBER 14, 2026:

NCR SERP Settlement

c/o Kroll Settlement Administration

P.O. Box 225391

New York, NY 10150-5391

Email: [email protected] 

Telephone: 833-930-0177

Important: Persons who request exclusion from the Settlement Class will not receive a Settlement Net Payment but will continue to be bound by the Court's 2024 Judgment. If you exclude yourself from the Settlement Class, you will retain your right to pursue your own claim under the 2024 Judgment independently, but you will not share in the settlement benefits.

Yes. The Court has appointed the following law firms and lawyers as Class Counsel to represent you and other members of the Settlement Class:

If you want to be represented by your own lawyer, you may hire one at your own expense.

Class Counsel will file a motion with the Court seeking an award of attorneys’ fees, costs, and litigation expenses under the common-fund doctrine (the “Fee and Cost Award”) before the motion for final approval of the settlement. Any Court-approved Fee and Cost Award shall come solely from the Settlement Amount. Class Counsel will seek attorneys’ fees of up to 33% of the Settlement Amount and reimbursement of out-of-pocket expenses of up to $400,000, such that the total Fee and Cost Award does not exceed 34% of the Settlement Amount.

You have a right to review Class Counsel’s motion and object to the amounts requested. After August 18, 2026, you can obtain a copy of that motion and supporting documentation on the Documents tab or at the Office of the Clerk, United States District Court for the Northern District of Georgia, 2211 United States Courthouse, 75 Ted Turner Drive, SW, Atlanta, GA 30303-3309, during regular business hours.

Any Class Member who has not requested exclusion and who wishes to object to the settlement or to Class Counsel’s request for a Fee and Cost Award must file with the Clerk of the Court a written statement designated “Objection.” Class Members may object either on their own or through an attorney hired at their own expense. 

All objections must: (1) certify under penalty of perjury that the filer is a Class Member or has been legally authorized to object on behalf of the Class Member, and provide an affidavit or other proof of actual legal authority; (2) provide the name, address, telephone number, and email address (if available) of the filer and the Class Member; (3) state all objections asserted by the Class Member and the specific reason(s) for each objection, and include all legal support and evidence the person wishes to bring to the Court’s attention; (4) indicate if the Class Member wishes to appear at the Final Fairness Hearing; and (5) identify all witnesses the Class Member may call to testify. If an objection is filed by a representative on behalf of a Class Member who is deceased, it additionally must: (6) provide a death certificate and the date of death; (7) provide documentation establishing the representative’s authority to object on behalf of the deceased; (8) clearly state that the objection is made in the filer’s representative capacity; and (9) be signed by the authorized representative.

Your written objection must be received by the Clerk of the Court on or before SEPTEMBER 14, 2026 at the following address:

Clerk of the Court 

United States District Court for the Northern District of Georgia 

Attn: Hoak et al. v. Plan Administrator of the Plans of NCR Corp., No. 1:15-cv-3983-AT 

2211 United States Courthouse 

75 Ted Turner Drive, SW 

Atlanta, GA 30303-3309

You will not be able to challenge the amount you receive under the settlement except by objecting with the Court as described in the Notice.

The Court will hold a Final Fairness Hearing on NOVEMBER 3, 2026, at 11:00 AM, in the courtroom of the Honorable Amy Totenberg, United States District Court for the Northern District of Georgia, 2211 United States Courthouse, 75 Ted Turner Drive, SW, Atlanta, GA 30303-3309. You are not required to attend the Final Fairness Hearing but may do so at your own expense. The hearing may be postponed or rescheduled without further notice to the Class. Please check the settlement website at www.NCRSERPSettlement.com for the most current information regarding the date and time of the Final Fairness Hearing.

At this hearing, the Court will consider whether the proposed settlement is fair, reasonable, and adequate. The Court may also consider Class Counsel's request for a Fee and Cost Award. If there are objections to either, the Court will consider them. If you have timely filed a written objection and indicated that you wish to speak at the Final Fairness Hearing, you may do yourself or hire your own lawyer to speak on your behalf, at your own expense.

If you do nothing, and the Court approves the settlement, you will still be entitled to receive your Settlement Net Payment. You will also be bound by the release of claims described in FAQ 9 above. But to receive your Settlement Net Payment, you must contact the Settlement Administrator to verify your identity or authority as Successor. If you do not verify your identity or authority as Successor, your allocated Settlement Net Payment will be returned to the Defendant.

If you have any questions about the Notice, the settlement, or the lawsuit, you may contact the Settlement Administrator or Class Counsel.

DO NOT CONTACT THE COURT WITH ANY SUCH QUESTIONS.