Benefits & Executive Compensation News

Education Groups Back NYU in 2nd Cir. Retirement Plan Appeal

April 7, 2020, 6:39 PM

The American Council on Education and eight other higher education groups urged the Second Circuit to remember the special context of university retirement plans when it considers an appeal over how New York University managed its two plans.

The groups’ brief, filed Monday, urges the U.S. Court of Appeals for the Second Circuit to evaluate the NYU plans in the specific context of higher education retirement plans. These plans have a different history and purpose than the 401(k) plans of the private sector, and that context must be considered when judging whether plan fiduciaries satisfied their obligations under the Employee...

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