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This official website is maintained by the Notice Administrator under the supervision of Co-Lead Counsel for the members of the Class in Steinke, et al v. Aon Investments USA, INC. et al, Case No. 210601197 Court of Common Pleas of Philadelphia County, Pennsylvania.

Steinke, et al v. Aon Investments USA, INC. et al,

Case No. 210601197

Court of Common Pleas of Philadelphia County, Pennsylvania

A class action lawsuit alleges that each Defendant - a professional investment advisor and consultant - agreed to assume fiduciary duties to PSERS Plan participants to review, vet, recommend, and monitor prudent investments for the PSERS Plan yet failed to do so.

A class action lawsuit will affect your rights if:

  • You are a plan participant in Pennsylvania's Public School Employees' Retirement System (PSERS),
  • You are in PSERS Membership Class T-E, Class T-F, Class T-G, or Class T-H, and
  • You paid an increased mandatory percentage of retirement contributions to PSERS at any time between July 1, 2021 and June 30, 2024. 

There is a pending lawsuit against four investment professionals: Aon Investments USA, Inc., Portfolio Advisors LLC, Hamilton Lane Advisors, L.L.C., and Aksia LLC (collectively, "Defendants"), which alleges that each of the Defendants violated fiduciary and contractual duties it owed to the Plan Participants in Pennsylvania's Public School Employees' Retirement System ("PSERS").

All of the Defendants, including Portfolio Advisors and Hamilton Lane, deny all allegations in the lawsuit. The Court has not decided whether Defendants have done anything wrong. Your legal rights are affected whether you act or don't act.

The Court has scheduled a Final Approval Hearing with respect to the Settlements with Portfolio Advisors and/or Hamilton Lane for September 11, 2025, at 10:00 a.m. via Zoom.

YOUR LEGAL RIGHTS AND OPTIONS
Description Due Date

DO NOTHING

Stay in this lawsuit. Await the outcome. Give up certain rights.

By doing nothing, you are staying in the Class. If you remain in the Class and the Plaintiffs obtain money or other benefits, you will obtain a share. If the Defendants who do not reach a settlement win, you will receive nothing from them.

ASK TO BE EXCLUDED

Friday, August 8, 2025

Get out of this lawsuit. Get no benefits from it. Keep rights.

If you ask to be excluded, any claim you might have will not be part of this lawsuit. If money or other benefits are later awarded in this lawsuit, you won't share in those benefits. But you keep any rights that have not expired to sue Defendants separately about the same legal claims in this lawsuit.

If you wish to opt out, you must take action to exclude yourself from the Class Action. You must do this by either: (1) sending a written Exclusion Request letter by U.S. Mail to PSERS Shared Risk Class Action Settlement Administrator, P.O. Box 173101, Milwaukee, WI 53217; or (2) excluding yourself by completing an Exclusion Request.

If you opt out by U.S. mail, it must be postmarked by August 8, 2025.  If you opt out electronically using this website, you must obtain confirmation of receipt of the Exclusion Request before the deadline on August 8, 2025.

Friday, August 08, 2025

OBJECT TO THE SETTLEMENT(S)

Friday, August 8, 2025

Object to One or Both Proposed Settlements. Stay in this lawsuit. Await the outcome. Give up certain rights.

By objecting, you stay in this lawsuit and you keep the possibility of getting money (or benefits) that may come from a trial or a settlement. You may also receive nothing. If you object and stay in the lawsuit, you give up any rights you may have to sue Defendants separately about the same legal claims in this lawsuit.

In order to object, mail a written objection postmarked by August 8, 2025, to: PSERS Shared Risk Class Action Settlement Administrator, P.O. Box 173101, Milwaukee, WI 53217. Your written objection should contain the following information:

  • Full name, email address, mailing address, and telephone number
  • Explanation of the basis upon which you claim to be a Class Member
  • Grounds for the objections, including any known legal support for the objection
  • Number of times you have objected to a class action settlement in the past five years and the caption of each case in which you filed an objection
  • Identity of any and all counsel representing you
  • Statement confirming whether you intend to appear and/or testify at the hearing (along with disclosure of all testifying witnesses), and
  • Your signature (not just your attorney's signature)

Friday, August 08, 2025

This website provides a summary of your rights and options. Your rights and options—and the deadlines to exercise them—along with many of the material terms of the proposed Settlement are explained further in the Notice.