Hackensack Meridian Defeats Part of Retirement Plan Lawsuit

Hospital network must still defend administrative fees, but wins on stable value fund claims.

Mar. 16, 2026 at 1:58pm

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A federal judge in New Jersey has ruled that Hackensack Meridian Health Inc. must defend the administrative fee levels in its employees' retirement plans, but the hospital network defeated claims challenging the performance of its stable value fund.

Why it matters

This case highlights the ongoing legal scrutiny of retirement plan fees and investment options, which have been a major focus of ERISA lawsuits in recent years. The outcome could set a precedent for how courts evaluate stable value fund performance claims.

The details

The plaintiff employees argued that Hackensack Meridian's TIAA stable value fund had a lower crediting rate than two other stable value funds. However, the judge ruled that the plaintiffs "did not provide enough details to show that these comparisons were sound" and that their "complaint does not explain whether these funds are substantially similar to the TIAA SVF such that the stark difference in their crediting rates raises an inference of imprudence."

  • The lawsuit was filed in 2026.

The players

Hackensack Meridian Health Inc.

A New Jersey-based hospital network that was sued over the administrative fees and investment options in its employee retirement plans.

Judge Evelyn Padin

The federal judge who ruled on the case, trimming the plaintiffs' claims against Hackensack Meridian.

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What they’re saying

“The plaintiff employees' complaint 'does not explain whether these funds are substantially similar to the TIAA SVF such that the stark difference in their crediting rates raises an inference of imprudence.”

— Judge Evelyn Padin

What’s next

The case will now proceed to trial on the remaining administrative fee claims against Hackensack Meridian.

The takeaway

This ruling highlights the high bar plaintiffs must meet to successfully challenge retirement plan investment options, even as administrative fees remain a major focus of ERISA litigation.