The Potential Threat
Class-action lawyers have set their sights on retirement savings plans offered by colleges and universities, focusing on “jumbo” plans, often with assets of more than $1 billion (though that amount may decline as the pickings become slimmer). These lawsuits are founded in claims of ERISA breaches of fiduciary duty. Colleges and universities need to understand these claims, and know what they need to do to prepare.
Continue Reading UNDER ATTACK: ERISA Class-Action Lawyers Target Colleges and Universities