October 11, 2024

Minnesota's CentraCare Cleared for $800,000 Retirement Plan Deal

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CentraCare Health System Inc. finalized a $800,000 class settlement with workers who challenged the cost and performance of certain investments in their retirement plans.

The deal is slated to benefit about 25,000 people covered by a pair of CentraCare retirement plans since June 2016. The settlement amount represents about 21% of the plan participants’ “best-case recovery” after most of their legal theories were dismissed on the pleadings, according to the settlement motion.

Judge John R. Tunheim granted final approval to the deal in an order issued Thursday in the US District Court for the District of Minnesota. He also …

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