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ARTICLE · 14 FEBRUARY 2019

A Back-To-School Progress Report

Ogletree, Deakins, Nash, Smoak & Stewart
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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.

United StatesEmployment and HR

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 of years there have been lawsuits filed against 20 higher education institutions regarding the retirement plans they offered. Generally, the complaints have claimed the following:

  • Excessive fees for recordkeeping and administration of the plans
  • Too many investment options, many of which were duplicative, unnecessary, and confusing to participants, and contained obscure fees
  • The use of retail funds instead of institutional mutual funds
  • Asset-based recordkeeping fees funded by revenue sharing

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