CentraCare Gets First Approval for $800,000 Retirement Plan Deal

CentraCare Health System Inc.'s $800,000 class settlement with workers covered by its retirement plans received initial court approval, paving the way for resolution of a challenge to the cost and performance of certain plan investments.

The deal is slated to benefit about 25,000 people covered by a pair of CentraCare retirement plans since June 2016. The settlement amount represents about 21% of the plan participants’ “best-case recovery” after most of their legal theories were dismissed on the pleadings, according to a settlement motion filed in the US District Court for the District of Minnesota.

Judge John R. Tunheim granted preliminary ...