Physician practice transactions recorded an even steeper decline as weak utilization and increased state scrutiny weighed on activity.

While balances benefited from rising stock prices, trading activity tilted toward locking in gains and modestly reducing risk without abandoning long-term growth strategies, according to the Alight Solutions 401(k) Index for May.

Health care has become remarkably effective at measuring what employers spend. The next evolution is measuring what those investments actually produce — healthier people.

The complaint, filed in U.S. District Court for the Central District of California, covers 83 patients treated between March 2022 and March 2026.