Northwell Health Retirement Plan Fee Suit Kept Alive by Judge

A former Northwell Health Inc. employee who says the company mismanaged its $5.6 billion retirement plan raised viable claims challenging the plan’s administrative fees and use of a single mutual fund, a federal judge ruled.

Judge Rachel P. Kovner on Tuesday partially granted Kaila Gonzalez’s request to file an amended complaint in her proposed class action bringing claims under the Employee Retirement Income Security Act. Gonzalez has valid ERISA claims based on the plan’s allegedly excessive administrative fees of $60 per person, per year, and she adequately alleged that the plan wrongly continued to offer an emerging markets fund that ...