Lehigh Valley Health Sued Over Plan Fees, Forfeiture Usage (1)

Lehigh Valley Health Network Inc. was hit with a proposed class action by former employees who say the health system mismanages its $1.1 billion retirement plan by paying excessive fees and mishandling money forfeited by departing workers.

The Lehigh plan paid average annual recordkeeping fees of more than $94 per person between 2018 and 2023, when similar plans paid just $28 per person for these services, according to a complaint filed Monday in the US District Court for the Eastern District of Pennsylvania.

The workers also challenge how the health system handles the retirement plan contributions that are forfeited by ...