Bronson Healthcare Cleared for $3 Million ERISA Settlement

Michigan-based Bronson Healthcare Group Inc.'s $3 million settlement with workers challenging their retirement plan fees received final federal court approval, as did an award of more than $1 million in fees and costs for their attorneys.

The settlement is slated to benefit a class of 21,528 people covered by Bronson’s $737 million retirement plan. It resolves allegations that the plan carried high administrative fees and offered poorly performing investments.

Judge Hala Y. Jarbou of the US District Court for the Western District of Michigan signed the final approval order Tuesday. In a separate order, she granted the plan participants’ ...