Intermountain Healthcare Sued Over Retirement Fund, Fees (1)

Utah’s Intermountain Healthcare Inc. was hit with a proposed class action saying its retirement plans are mismanaged through excessive fees and a flawed stable value fund.

The complaint, filed Tuesday in the US District Court for the District of Utah, takes aim at a pair of retirement plans that together held more than $6.3 billion as of 2023. The plans overpaid for recordkeeping services and invested large sums in a stable value fund that produced significantly lower returns than similar options available on the marketplace while carrying greater risk, according to the complaint.

• The lawsuit, which seeks to certify ...