Search
 

Latest 403(b) Suit Targets Columbia University

'Until employers recognize their duties and fulfill their duties, these cases will keep coming,' says Charles Field of Sanford Heisler.

By Emily Zulz | Updated on August 18, 2016

The tally of universities getting hit by lawsuits over 403(b) fees and their fiduciary duty continues to go up.

On Tuesday, Sanford Heisler LLP filed a class complaint in the U.S. District Court for the Southern District of New York, claiming Columbia University breached its obligation under the Employee Retirement Income Security Act (ERISA) to prudently invest its employees’ retirement savings. Similar complaints have been brought against the 403(b) plans at New York University, Yale University, Duke, Johns Hopkins, the University of Pennsylvania, and Vanderbilt, as well as a slightly different complaint against Massachusetts Institute of Technology’s 401(k) plan.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.