Today's news of a major $2.43 billion class-action settlement against the Bank of America, tied to losses related to the bank's acquisition of Merrill Lynch, will indeed filter down to individuals participating in pension plans across the country, with a special emphasis on the Buckeye State.
In Ohio, Columbus NPR station WOUB is reporting that both the State Teachers Retirement System and the Ohio Public Employees Retirement System will receive approximately $20 million as part of the settlement.
As many as 70,000 individual Ohio residents may also be considered potential class action members in the case.
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