LifePoint Sued Over Retirement Plan Fees, Use of Forfeitures

LifePoint Health Inc. is facing a new lawsuit challenging the fees tied to its employees’ $2.4 billion retirement plan and how it handles plan contributions forfeited by departing workers.

The proposed class action says LifePoint, a Tennessee-based hospital and health-care network, mismanages its retirement plan by overpaying for routine recordkeeping and administrative services. These fees were as high as almost $55 per person, per year, when similarly sized plans obtained these services for only about $25 per person each year, according to complaint.

The lawsuit, filed Thursday in the US District Court for the Middle District of Tennessee, also ...