Sentara Health Retirement Fund Class Suit Advances Toward Trial

Participants in Sentara Health’s retirement plan can go to trial on claims the Virginia-based health-care system mismanaged the plan by offering a stable value fund with subpar returns.

A trial is needed to determine whether Sentara properly monitored the plan’s stable value fund from Principal Life Insurance Co., Judge Jamar K. Walker said in a Jan. 30 opinion denying the Sentara’s motion for summary judgment. Sentara followed a “generally prudent process” by hiring an outside investment consultant and meeting quarterly to review the plan, said Walker, of the US District Court for the Eastern District of Virginia, but ...