Sutter Health Agrees to Class of Thousands Over Retirement Fees

California health-care system Sutter Health agreed to have litigation over the target date funds in its employees’ $3.7 billion retirement plan move forward on a class-wide basis.

Sutter consented to have the case certified as a class action covering “thousands” of participants in its retirement plan since 2014, according to a joint stipulation filed Tuesday in the US District Court for the Eastern District of California. The plan had more than 73,000 active participants as of 2018, according to the workers’ complaint.

Hundreds of lawsuits challenging retirement plan fees have been filed in federal courts over the past few ...