Columbia Retirement Plan Lawsuit Advances After NYU Ruling

Columbia University employees and retirees are moving forward with allegations that the school’s retirement plans carried high administrative and investment management fees (Cates v. Trs. of Columbia Univ., 2017 BL 302499, S.D.N.Y., No. 1:16-cv-06524-KBF, 8/28/17).

Three days after issuing a similar ruling in a case against New York University, Judge Katherine B. Forrest of the U.S. District Court for the Southern District of New York denied Columbia’s request to dismiss claims challenging mutual fund fees and record keeping arrangements tied to its retirement plans. In both cases, Forrest dismissed many of the other claims, including the allegations that ...