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Columbia Says No Trial Needed in Retirement Plan Battle

April 30, 2019, 4:26 PM

Columbia University wants a class action over its retirement plan resolved before trial, telling a federal judge the case is based on “false, inapposite, and irrelevant” allegations.

The school defended how it evaluated retirement plan record keepers, saying it engaged in a “robust decisionmaking process” that ultimately led to a consolidation from three record keepers to two. Columbia considered moving to only one record keeper but decided against it after carefully weighing the pros and cons, the school said in its April 29 motion for summary judgment.

Columbia is one of at least 20 prominent universities to be sued over ...