Catholic Health Provider to Pay $42M to Settle Lawsuit Alleging Failure to Properly Use Company Funds to Cover Expenses Related to 401K Plan

The Catholic health system Providence Health & Services has agreed to a $42 million payout as part of a class-action lawsuit regarding the management of its retirement plan.

The lawsuit was originally brought in October 2024 by former Providence employee Victoria Halter along with a class of plaintiffs who had participated in Providence’s 401(k) retirement plan.

The health system has its roots in a network of hospitals founded by the Sisters of Providence starting in the mid-19th century.

Read more at EWTN News