Princeton Trustees Ink $5.8 Million Retirement Plan Settlement

The Trustees of Princeton University signed a $5.8 million class settlement, ending a lawsuit in New Jersey federal court that challenged the fees and investment options in the school’s retirement plans.

The deal, announced Tuesday, is expected to benefit about 24,000 people who had retirement savings invested in Princeton’s billion-dollar plans. It also requires the trustees to ensure plan record-keeping fees won’t increase over the next three years, seek competitive bids for plan service providers, and step up its internal review process.

The lawsuit by Princeton plan participant Elysee Nicolas claims Princeton trustees violated the Employee Retirement Income Security Act ...