United Surgical 401(k) Fee Suit Settles for Nearly $1.5 Million

United Surgical Partners International Inc. agreed to pay $1.475 million to resolve litigation over its 401(k) plan fees after a federal appeals court said the lawsuit was viable.

The agreement would provide more than 16,600 participants in the United Surgical plan with about 28% of their “best-case estimated damages,” according to a settlement motion filed Jan. 3 in the US District Court for the Northern District of Texas.

The lawsuit says United Surgical, an ambulatory surgery network owned by Tenet Healthcare, mismanaged its 401(k) plan by offering overly expensive investment options and paying excessive administrative fees.

Judge Brantley Starr ...