Hospital To End ERISA Suit With $4M Payment

Law360, New York (March 10, 2017, 5:31 PM EST) -- A Chicago-area hospital will pay $4 million to settle a suit from former employees accusing it of unlawfully terminating their pension plan as well as underfunding it by $31 million in violation of the Employee Retirement Income Security Act.

U.S. District Judge Manish Shah granted preliminary approval to the settlement Thursday, which he called “sufficiently fair, reasonable, and adequate” to notify class members and give them a chance to object ahead of a June hearing for final approval.

Holy Cross agreed to pay $4 million in...
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