Bloomberg Law
March 24, 2023, 1:55 PM

Michigan’s Munson Healthcare Will Settle Retirement Fee Lawsuit

Jacklyn Wille
Jacklyn Wille
Legal Reporter

Michigan’s Munson Healthcare will settle a proposed class action challenging the fees associated with its $397 million retirement plan.

Munson reached a tentative agreement with a proposed class of plan participants during a private mediation session held earlier this month. The parties expect to file a class settlement for court approval by mid-May, according to a status report filed Thursday in the US District Court for the Western District of Michigan.

The lawsuit claims the Munson plan’s annual recordkeeping and administrative fees grew from $69 per person to $120 per person over the past few years, when a reasonable fee ...

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