Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

ThedaCare Latest Wisconsin Provider Sued Over Retirement Plan

Aug. 12, 2020, 7:22 PM

Wisconsin health care provider ThedaCare Inc. was sued in federal court Wednesday by a participant in its retirement plan who says the company failed to monitor and rein in the plan’s excessive record keeping fees and overly expensive investment options.

Joseph Glick’s proposed class action, filed in the U.S. District Court for the Eastern District of Wisconsin, accuses ThedaCare of mismanaging its $540 million retirement plan. It allegedly failed to negotiate a better deal on administrative fees or seek out lower-cost investment options to replace the plan’s expensive, actively managed funds.

Glick charges ThedaCare with violations of the Employee Retirement ...