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NorthShore University HealthSystem Sued Over Retirement Plan

May 17, 2022, 4:17 PM

Chicago’s NorthShore University HealthSystem is the latest employer to be sued in federal court by a proposed class of employees challenging the administrative fees and investment options in their retirement plan.

The lawsuit, filed by former NorthShore employee Jamison Remied, claims the hospital system’s $1.8 billion retirement plan paid annual recordkeeping and administration fees as high as $99 per person, when a reasonable fee would have been closer to $34 per person. The plan also offered funds in high-cost share classes when identical funds were available at lower cost, Remied said in a complaint filed Monday in the US District ...