Lehigh Valley Health Network Inc. signed a $1.15 million class settlement aimed at resolving litigation by workers who say their retirement plan is plagued by excessive fees and mishandled forfeitures.
The proposed deal would cover about 26,430 people who participated in the Lehigh plan since October 2018, along with their beneficiaries. It represents 11% of the workers’ estimated damages on all their claims, and more than 61% of the damages associated with their core claims of high recordkeeping fees and mishandled forfeitures, they said in a Monday motion asking Judge John M. Gallagher of the US District Court for the ...