Benefits & Executive Compensation News

Duke Is Second School to Lose Round in Retirement Plan Lawsuits

May 12, 2017, 2:25 PM

A lawsuit accusing Duke University’s retirement plan of high fees and poor investments is moving forward after a federal judge issued a mixed ruling on the school’s motion to dismiss (Clark v. Duke Univ., M.D.N.C., No. 1:16-cv-01044-CCE-LPA, 5/11/17).

The judge May 11 refused to dismiss allegations that Duke’s retirement plan charged excessive record-keeping and investment fees and favored the investment products offered by the school’s record keepers over lower-cost alternatives. Other claims were subject to dismissal for being filed too late or for being insufficiently supported by facts, the judge ruled.

The decision, which included no significant discussion...

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