Pinnacle Health Retirement Plan Lawsuit Investigation: 403(b) Mismanagement?
Last Updated on February 19, 2024
At A Glance
- This Alert Affects:
- Current and former employees of Pinnacle Health Systems (or its successor UPMC Pinnacle) who participated in the Pinnacle Health 403(b) tax-sheltered savings plan between 2020 and the present.
- What’s Going On?
- Attorneys working with ClassAction.org are investigating whether the plans were mismanaged, causing participants to have less money for their retirement, and whether a class action lawsuit could be filed to help.
- What You Can Do
- If you work or worked for Pinnacle Health System and participated in its 403(b) retirement plan at any time between 2020 and the present, fill out the form on this page to learn more. You may be able to help get a class action lawsuit started.
- How Can a Class Action Help?
- A class action lawsuit, if filed and successful, could help 403(b) participants recover money for any potential mismanagement of their retirement funds and force the company to change the way it manages the plans.
Attorneys working with ClassAction.org are investigating whether they can file a class action lawsuit against Pinnacle Health System over the way certain retirement plans were managed.
Specifically, they’re looking into whether Pinnacle Health Systems chose extremely expensive and poorly performing investments for its 403(b) tax-sheltered savings plan, causing participants to have less money available for their retirement. The investment of particular interest is the Prudential Guaranteed Interest Account, now known as the Empower Annuity Insurance Co. Guaranteed Interest Account.
If a class action lawsuit is filed and successful, 403(b) plan participants may be able to recover money for any potential mismanagement and force the company to change the way it handles the plans.
If you work or worked for Pinnacle Health Systems (or its successor UPMC Pinnacle) and participated in the Pinnacle Health 403(b) tax-sheltered savings plan at any time between 2020 and the present, fill out the form on this page today to learn more about the investigation and what you can do.
After you get in touch, an attorney or legal representative will reach out to you directly. It doesn’t cost anything to speak to someone and you’re not obligated to move forward with legal action if you don’t want to.
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