MedStar Retirement Plan Fee Lawsuit Settles for $11.8 Million

MedStar Health Inc. workers negotiated an $11.8 million class settlement in their lawsuit challenging the target date funds in the health system’s retirement plan.

The deal, announced Friday in the US District Court for the District of Maryland, is expected to benefit a certified class of about 25,000 people covered by the MedStar plan since 2014. It represents an average recovery of about $481 per class member, and it “compares favorably” to other settlements in similar Employee Retirement Income Security Act cases, according to the settlement motion.

The lawsuit, which survived a motion to dismiss in 2021, centers on ...