09/27/2021, 2:23 pm
- Investment underperformance of 1% does not indicate an ERISA claim
- If there are complaints, details of the plan’s administration fees are missing
TriHealth Inc. defeated a federal lawsuit by a proposed group of employees alleging the $ 457 million Cincinnati Health Care System retirement plan incurred excessive administration fees and offered expensive and malfunctioning investments.
The employee’s complaint merely alleged that the TriHealth Plan’s administrative fees were high, “not that they were unjustifiably (or carelessly) high,” said Judge Matthew W. McFarland of the Ohio District Court for the Southern District of Ohio on Sept. 24 Employees have not described what services the plan received in return for these fees, nor have they identified less costly providers or service options that …
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