NorthShore Health Retirement Plan Fee Challenge Advances in Part

NorthShore University HealthSystem must face claims that its retirement plan charged excessive recordkeeping fees, but it defeated allegations challenging the expenses charged by certain plan investments.

The lawsuit says NorthShore’s retirement plan charged annual recordkeeping fees of about $107 per person, when similar plans charged between $31 and $42 for the same services. These claims —which were bolstered by allegations that retirement plan recordkeeping services are a “commodity with little variation in price"—are sufficient to state a claim under the Employee Retirement Income Security Act, according to a Monday opinion by Judge Steven C. Seeger.

Seeger, who sits in ...