Magistrate Backs Early Nod for $2.75 Million Retirement Fee Deal

Northwell Health Inc. and a group of retirement beneficiaries received an early green light to pursue a $2.75 million settlement to resolve claims over the health provider’s administrative fees.

Magistrate Judge Taryn A. Merkl recommended preliminarily approval of the parties’ settlement agreement and the certification of a class represented by plaintiff Kaila Gonzalez, according to her report filed Monday to the US District Court for the Eastern District of New York. Gonzalelz sued Northwell in 2020, alleging the company mismanaged its $5.6 billion retirement plan and offered workers expensive funds that consistently underperformed their benchmarks.

• The parties’ settlement agreement would ...