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Banner Health Workers Nab $500,000 Deal From 401(k) Adviser

Jan. 2, 2020, 3:12 PM

Banner Health employees who filed a class action challenging the fees in their 401(k) plan reached a $500,000 settlement with the plan’s investment consultant, the parties told a federal judge in Colorado.

The employees’ deal with Jeffrey Slocum & Associates Inc., announced in court papers filed Dec. 31, comes less than a week before the case is scheduled for an eight-day trial before Judge William J. Martinez of the U.S. District Court for the District of Colorado.

The settlement doesn’t resolve the employees’ claims against Banner or members of Banner’s board of directors.

The employees accuse Slocum of giving bad...

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