Children’s Hospital Los Angeles Hit With Retirement Plan Lawsuit

The retirement plans covering employees of Children’s Hospital Los Angeles are plagued by high fees, pricey and poorly performing mutual funds, and an imprudent stable value investment, a federal lawsuit alleges.

The plans, which together held $961 million as of 2024, paid unnecessary and excessive fees while offering subpar funds that impeded workers’ ability to save for retirement, two plan participants alleged. The plans were structured to maximize compensation for their third-party service providers, and they offered multiple funds that could have been obtained for less money, according to a proposed class complaint filed Monday in the US District Court ...