Bloomberg Law
June 18, 2020, 4:26 PM

Banner Health Workers Appeal Mixed Ruling in 401(k) Battle

Jacklyn Wille
Jacklyn Wille
Legal Reporter

Banner Health employees who went to trial in a class action over the company’s 401(k) plan are appealing to the Tenth Circuit after a federal judge in Colorado issued a mixed ruling that awarded them far less in damages than they sought.

The employees on Wednesday filed a notice of their intent to appeal Judge William J. Martinez’s lengthy May decision, “to the extent adverse to Plaintiffs.” Martinez concluded after an eight-day trial that Banner mismanaged the 401(k) plan by allowing the plan to pay excessive administrative fees and failing to monitor plan fiduciaries, but he rejected some of ...