Washington University in St. Louis scored a major win defeating a lawsuit accusing it of violating its fiduciary duties by allowing its retirement plan to pay excessive fees and including duplicative and poorly performing investment options.
With the Sept. 28 ruling, Washington University becomes the fourth college to successfully defend such claims, following New York University, the University of Pennsylvania, and Northwestern.
Since 2016, nearly 20 universities have been sued under the Employee Retirement Income Security Act over how they managed their workers’ retirement savings. For the most part, judges have allowed these lawsuits to advance in ...
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