Centra Health Sued Over Stable Value Fund in Retirement Plan

Virginia health-care system Centra Health Inc. was hit with a proposed class action claiming its retirement plan is plagued by a subpar stable value fund that pays hefty fees to a plan service provider.

The lawsuit centers on a guaranteed investment fund from Transamerica Financial Life Insurance Co., which isn’t a party to the litigation. This fund, which held more than $60 million worth of the plan’s assets, provided lower rates of return than similar investment options while allowing Transamerica to earn excessive compensation, plaintiff Ashley Fitch said in a complaint docketed Monday in the US District Court for ...