Georgia’s Columbus Regional Healthcare System Inc. will pay $2 million to settle a class action challenging the investment options and fees in its workers’ retirement plan.
The deal is expected to benefit about 6,800 people covered by Columbus Regional’s retirement plan since 2015. The settlement amount represents a significant percentage of the plan participants’ estimated damages, which ranged between $7.5 million to $8.4 million, according to the settlement motion filed Wednesday in the US District Court for the Middle District of Georgia.
The lawsuit says Columbus, which was acquired by Piedmont Healthcare Inc. in 2019, mismanaged its $183 million retirement ...
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