Banner Health is fighting a request for jury trial in a class action challenging the fees and investment options in its 401(k) plan.
The lawsuit, in which about 33,000 investors in Banner’s retirement plan object to administrative fees paid to Fidelity Management Trust Co., isn’t suitable for trial by jury because of the type of claims at issue, Banner told a federal judge Nov. 2. Claims of fiduciary breach under the Employee Retirement Income Security Act can’t go before a jury, even if the lawsuit seeks money damages in addition to retirement plan changes, Banner said.
Trial by jury has ...