Harvard Hospital’s $2.9 Million Retirement Plan Settlement OK’d

A teaching hospital for Harvard Medical School received final approval for a $2.9 million class settlement with more than 10,000 people challenging the fees and investment options in a pair of retirement plans sponsored by the hospital.

The deal provides class members with about 40% of their estimated damages. It requires Beth Israel Deaconess Medical Center in Boston to look for a new plan recordkeeper within three years and strengthen its investment monitoring practices, according to the settlement motion.

Judge Denise J. Casper of the US District Court for the District of Massachusetts granted final approval to the deal ...