Boston College Retirement Plan Class Action Settles for $330,000

Boston College trustees signed a $330,000 settlement aimed at resolving a class action challenging how they managed a pair of retirement plans covering university employees.

The deal requires the defendants to continue using an investment consultant for five years and to require its retirement plan recordkeepers to share any survey data they collect about participants’ satisfaction with their services. The settlement amount represents about half of the midpoint of the participants’ range of estimated damages with respect to their challenge to the plan’s recordkeeping fees, they said in a settlement motion filed Tuesday in the US District Court for the ...