Tenet-Owned United Surgical Partners Sued Over 401(k) Plan Fees

May 3, 2021, 7:03 PM

United Surgical Partners International Inc. was sued by five former employees who say the ambulatory surgery provider’s 401(k) plan offers overly expensive investment options and charges excessive fees, according to a proposed class action filed in a Dallas federal courtroom.

The employees claim United Surgical’s 401(k) plan, which holds more than $455 million in assets and covers about 16,600 people, had some of the highest overall costs among similarly sized retirement plans as of 2018. The plan’s annual administrative costs ranged between $71 and $98 per participant between 2015 and 2018, when the average costs for a similarly sized plan ...

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