Long Island Hospital Settles Retirement Plan Fee, Fund Challenge

Long Island Community Hospital agreed to a class-wide settlement with former hospital workers who said their retirement plan offered pricey investments and a poorly performing stable value fund.

The parties announced the deal Wednesday in the US District Court for the Eastern District of New York, telling Judge Gary R. Brown that they planned to file details of the agreement for court approval within 90 days.

• The lawsuit claims the hospital’s retirement plan offered mutual funds in high-cost share classes that could have been obtained for less money
• It also allegedly offered a stable value fund that provided paltry returns ...