Dartmouth-Hitchcock Sued Over $1.9 Billion Retirement Plans

New Hampshire health system Dartmouth-Hitchcock Clinic mismanages a pair of retirement plans holding a combined $1.9 billion by filling them with high-cost funds and saddling participants with above-market recordkeeping fees, according to a proposed class action filed in federal court.

The lawsuit, filed March 18 in the U.S. District Court for the District of New Hampshire, takes aim at four mutual funds in the Dartmouth-Hitchcock plans that allegedly carry fees far above industry medians. It also challenges the plans’ administrative fee structure, which participants say combined a flat recordkeeping charge with revenue sharing payments to create a “worst-case scenario” that …

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