Hackensack Meridian Retirement Plan Suit Trimmed in New Jersey

New Jersey hospital network Hackensack Meridian Health Inc. must defend the administrative fee levels in its employees’ retirement plans, but it defeated claims challenging the performance of its stable value fund.

The plaintiff employees argued the plans’ TIAA stable value fund was a bad choice because it had a lower crediting rate than two other stable value funds, but they didn’t provide enough details to show that these comparisons were sound, Judge Evelyn Padin said. Their complaint “does not explain whether these funds are substantially similar to the TIAA SVF such that the stark difference in their crediting rates raises ...