Boston Children’s Hospital Settles Retirement Plan Fee Lawsuit

Boston Children’s Hospital agreed to settle a proposed class action filed by workers who say their retirement plan fees are too high.

The parties reached a tentative agreement after private mediation and will update the court on their progress if they haven’t submitted the deal for preliminary court approval by mid-April, they said in a status report filed Feb. 14 in the US District Court for the District of Massachusetts.

Boston Children’s, formally known as Children’s Hospital Corp., is accused of mismanaging its $1.1 billion retirement plan by paying excessive administrative fees and offering expensive and risky target date funds ...