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Cornell Workers Appeal Retirement Plan Suit After Partial Deal

Jan. 13, 2021, 7:57 PM

Cornell University employees who negotiated a $225,000 class settlement on one claim involving the school’s retirement plan are taking their remaining claims against the school to the Second Circuit, according to a notice of appeal submitted to a Manhattan federal judge.

The class of 28,000 Cornell employees is appealing a 2019 decision rejecting nearly all of their Employee Retirement Income Security Act claims, which challenged the investment options and record-keeping fees associated with their retirement plan.

That decision by Judge P. Kevin Castel of the U.S. District Court for the Southern District of New York allowed the class to proceed...

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