Merrill Edge retirement account cash sweep settlement
Sarah Valelly v. Merrill Lynch, Pierce, Fenner & Smith Incorporated
Also known as RASP cash sweep; Retirement Asset Savings Program; Merrill IRA cash sweep; JND Legal Administration; 1:19-cv-07998
The lawsuit said Merrill paid too little interest on cash swept from Merrill Edge retirement accounts.
Copied from the official notice. Last compared Nov 7, 2026.
- You could get
- A share of the fund $39 million fund, split among everyone who files.
Source
“Share of a $39 million fund; nothing if under $10”
From the administrator site: Official settlement site home page. Last compared Nov 7, 2026.
- Claims
- No claim form needed
Source
“If you are a Class Member, a payment will be made into your existing Merrill Edge retirement account, or by check or electronic transfer if you no longer maintain your account. There is no need to file a claim. Class Members who no longer maintain Merrill Edge retirement accounts are strongly encouraged to choose to receive payment as an electronic transfer (instead of a check) by submitting an Electronic Payment Request . The deadline for choosing payment by electronic transfer is March 26, 2027 . Payments under $10 will not be issued.”
From the administrator site: Official settlement site home page. Last compared Nov 7, 2026.
- Who can file
- Merrill Edge retirement cash swept by RASP, Dec 2016 to Mar 2020
Source
“Excluded from the Certified Class is any “Person” (as defined below) who timely and validly requested exclusion from the Certified Class.”
From the court record: Stipulation of Settlement (Dkt. 397, filed 09/30/26), hosted on the official site. Last compared Nov 7, 2026.
- Where
- Anywhere in the U.S.
Source
“You are a Class Member if you had one or more Merrill Edge retirement accounts with cash balances that were swept pursuant to RASP at any time during the period December 15, 2016 through March 15, 2020.”
From the administrator site: Official settlement site home page. Last compared Nov 7, 2026.
Quick answers
How much is the Merrill Edge retirement account cash sweep settlement payout?
A share of the fund. $39 million fund, split among everyone who files.
Do I need to file a claim for the Merrill Edge retirement account cash sweep settlement?
No claim form. Payment is automatic. If you still have the Merrill Edge retirement account, payment goes into it. If you no longer have it, you get a check unless you choose electronic transfer online by March 26, 2027. No time of day is stated.
When will the Merrill Edge retirement account cash sweep settlement pay?
Payment can only happen after the court gives final approval and any appeals are over.
The final approval hearing is set for Mar 12, 2027.
Is the Merrill Edge retirement account cash sweep settlement legit?
The settlement administrator (the company that handles claims) is JND, and the official site is www.mlretirementaccountlitigation.com. Real notices point there; if a link in a message goes anywhere else, do not use it.
The official site never asks you to pay to file.
Also ending this week
Related settlements
Confirm with the administrator before you act.
Case details
- Case
- Sarah Valelly v. Merrill Lynch, Pierce, Fenner & Smith Incorporated
- Court
- U.S. District Court for the Southern District of New York
- Case number
- 1:19-cv-07998-VEC
- Administrator
- JND
- Official site
- www.mlretirementaccountlitigation.com
- Settlement fund
- $39 million
- Full payout terms
- Share of a $39 million fund; nothing if under $10Pro rata share of the Net Settlement Fund, based on the interest each class member would have earned at a reasonable rate; no payment if the share is under $10
Other dates
- Opt-out (exclusion) deadline
- (ahead) source document
- Objection deadline
- (ahead) source document
- Final approval hearing
- (ahead) source document
The court’s exact words
all persons who had one or more Merrill Edge retirement accounts with cash balances that were swept pursuant to RASP during the period December 15, 2016, through March 15, 2020.
Quoted from the official notice. Read the notice for the full definition.
Our notes: The account must have been a Merrill Edge Self-Directed Investing retirement account (for example an IRA, Roth IRA, Rollover IRA, Inherited IRA, SEP IRA or SIMPLE IRA). People who held only a Merrill Edge non-retirement account, or a retirement account not offered by Merrill Edge Self-Directed Investing, are not in the class. Excluded: anyone who timely and validly asked to be excluded from the certified class. Only class members whose share is $10 or more are paid.
You may be included if you had a Merrill Edge retirement account with cash swept under RASP from December 15, 2016 through March 15, 2020.
It covers only Merrill Edge Self-Directed Investing retirement accounts such as IRAs, not non-retirement accounts.
You are not included if you asked to be excluded from the class.
Sources and checks (5)
Every fact people act on was copied from the official source and compared with it. How we check
- Official settlement site home page administrator site
- Official Key Dates page administrator site
- Long-Form Notice to Class Members (official site) administrator site
- Order Granting Preliminary Approval (October 7, 2026), hosted on the official site court record
- Stipulation of Settlement (Dkt. 397, filed 09/30/26), hosted on the official site court record
What changedLast change Oct 31, 2026
- Page created. No claim form: payment is automatic. source document
Questions
I already filed. What now?
There is no claim form, so there was nothing to file. The administrator pays class members automatically, usually after final approval and any appeals. Never pay anyone to check on a payment.
Opting out
To leave the settlement and keep your right to sue on your own, follow the official notice by Feb 19, 2027. If you opt out, you get no payment. Opting out and objecting have separate rules; we cannot tell you which is right for you.