Nemours Foundation Strikes Deal in Retirement Plan Fee Lawsuit

Pediatric health system Nemours Foundation agreed to settle a proposed class action that said its $1 billion retirement plan is plagued by excessive administrative fees.

The parties reached an agreement after working with a private mediator and are in the process of finalizing settlement paperwork, they told Judge Brian J. Davis of the US District Court for the Middle District of Florida. Their notice, filed Wednesday, asked Davis to set a July 28 deadline for them to seek preliminary approval of the settlement.

• The lawsuit says the Nemours plan significantly overpays for administrative services while allowing its recordkeeper to ...