MyMichigan Health Agrees to $1.9 Million Retirement Fund Accord

MyMichigan Health signed a $1.9 million class settlement aimed at resolving litigation claiming the health-care system’s retirement plan is plagued by an “entry-level” stable value investment with subpar returns.

The proposed deal, announced Monday in the US District Court for the Eastern District of Michigan, is expected to benefit about 18,000 people covered by the MyMichigan retirement plan. Plaintiffs estimated their total damages in the case to be between $11 million and $13 million, according to the filing.

• The lawsuit says the health-care system allowed more than $100 million of its retirement plan’s assets to be invested in an ...