News & Analysis as of

Retirement Plan Employee Benefits Universities

Bricker Graydon LLP

403(b) Plans - Not Your Average Salary Deferral Plan

Bricker Graydon LLP on

Congress continues to pass laws that move 403(b) plans ever closer to 401(k) plans, but 403(b) plans remain distinct. Understanding these differences allows you to maintain a compliant plan that best serves the needs of your...more

Bradley Arant Boult Cummings LLP

Don’t Overlook These 5 Benefits Issues Facing Higher Education Institutions

All employers are faced with challenges and compliance risks associated with providing benefits to their employees. However, these risks and challenges can vary greatly by industry. Employers (and their advisors) who...more

Bass, Berry & Sims PLC

Supreme Court Hears Oral Argument: Are Allegations of Excessive Retirement Plan Fees Sufficient to State a Claim under ERISA?

Bass, Berry & Sims PLC on

On December 6, the U.S. Supreme Court heard oral argument in the case of Hughes v. Northwestern University. The question at issue is whether allegations that a defined-contribution retirement plan paid fees that substantially...more

Verrill

Supreme Court will Hear Northwestern University 403(b) Plan Excessive Fee Case

Verrill on

The United States Supreme Court will weigh in on the spate of recent lawsuits filed against colleges and universities related to the schools’ retirement plans. The Court has granted a request for review from participants in...more

McDermott Will & Emery

Severance and Deferred Compensation Considerations for Tax-Exempt Colleges and Universities

McDermott Will & Emery on

In-house counsel and human resources professionals at tax-exempt colleges and universities often face a variety of challenges when structuring, and determining obligations due under, severance arrangements. There are some key...more

Proskauer - Employee Benefits & Executive...

Third Circuit Resuscitates Claims Against University 403(b) Plan Fiduciaries

Over the past several years, the ERISA plaintiffs’ bar has targeted university-sponsored 403(b) plans, arguing that the plan fiduciaries breached their fiduciary duties and engaged in prohibited transactions in connection...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

A Back-to-School Progress Report

This is an update to our article, Back to School for ERISA Fiduciary Claims: How to Prepare for This Trend in University Litigation, which was published on August 22, 2017. As we discussed previously, over the past couple...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Duke University settles their 403(b) lawsuit

Over the last 35 years, Duke University has had a championship basketball team on the court. In another court, Duke didn’t do too well....more

Littler

Victory for NYU After First Trial in the 401(k) Fee Cases Filed Against Colleges and Universities

Littler on

In the past two years, more than 16 prominent colleges and universities across the country have been targeted by class action lawsuits filed under the Employee Retirement Income Security Act (ERISA) challenging the fees and...more

Proskauer Rose LLP

ERISA Newsletter - Third Quarter 2017

Proskauer Rose LLP on

Editor's Overview - As we have observed on other occasions, the ERISA class action plaintiffs' bar has, for several years now, honed in on 401(k) plan fiduciaries and their decisions to select and retain investment options...more

Seyfarth Shaw LLP

Penn Succeeds in Dismissing Retirement Plan Proposed Class Action

Seyfarth Shaw LLP on

Seyfarth Synopsis: Since August 2016, sixteen elite colleges and universities have faced class action lawsuits related to management of their retirement plans. After five cases previously survived motions to dismiss, the...more

McDermott Will & Emery

Top US Universities Hit with Retirement Plan Lawsuits: Lessons for Plan Sponsors

The recent wave of 403(b) lawsuits against more than a dozen prominent US universities could herald similar suits for other 403(b) plan sponsors. Plan sponsors can minimize their risk by reviewing their plan governance...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Absolutely no shock Universities being sued over their Plans

There has been an influx of participant lawsuits against private universities for the 401(k) and/or 403(b) plans they sponsor for their employees. That’s like shooting fish in a barrel....more

Akerman LLP

Universities: Growing Concern With Explosion of Retirement Plan Fee-Related Lawsuits

Akerman LLP on

In a concerning development for universities and other institutions of higher learning nationwide, a growing number of schools, including Massachusetts Institute of Technology, New York University, Yale University, Johns...more

Franczek P.C.

Multiple Universities Sued Over 403(b) Retirement Plan Investment Fees

Franczek P.C. on

In the last several days, a number of large private universities have been sued regarding the investment fees in their 403(b) retirement plans. The lawsuits claim that these universities breached their fiduciary duties under...more

Ballard Spahr LLP

ERISA Class Actions Filed Against Higher Education Institutions

Ballard Spahr LLP on

Several ERISA breach of fiduciary duty class actions involving allegedly excessive retirement plan fees were filed this week against higher education institutions including colleges, universities, and medical schools. The...more

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