Sunrise Senior Living Sued Over Retirement Plan Fund, Fee Levels

Sunrise Senior Living LLC was sued Friday by five former employees who say the company’s $360 million retirement plan is plagued by a poorly performing and overly risky stable value fund.

The senior living facility is accused of mishandling its retirement plan by paying excessive recordkeeping fees and offering an imprudent stable value fund from Empower Annuity Insurance Co. of America, which isn’t named as a defendant. This fund, which held nearly $80 million worth of plan assets in 2024, provided underwhelming returns compared to funds available from competitors while exposing workers’ retirement plans to excessive risk, according to a ...