NorthShore University Health Inks $850,000 Retirement Fee Accord

NorthShore University HealthSystem signed an $850,000 class settlement aimed at resolving litigation brought by workers alleging their retirement plan charges excessive administrative fees while offering pricey funds.

The proposed deal would provide about 18,000 people covered by NorthShore’s plan since May 2016, representing nearly 15% of their estimated losses in the case, according to a motion seeking preliminary settlement approval filed Friday in the US District Court for the Northern District of Illinois.

• NorthShore was accused of allowing its retirement plan to charge annual record-keeping fees of about $107 per person, when similar plans charged between $31 and $42 for ...