Johns Hopkins Cleared for $14 Million Retirement Plan Settlement

Johns Hopkins University received final court approval to settle a class action over its retirement plan for $14 million, according to an order signed by a federal judge in Maryland.

The settlement resolves allegations that the school’s retirement plan carried high fees and offered bad investment options in violation of the Employee Retirement Income Security Act. It stands to benefit about 19,000 current and former plan participants.

Johns Hopkins is one of 20 prominent universities to be accused of retirement plan mismanagement since 2016, and one of six to sign multi-million dollar settlements. The litigation effort has produced nearly $70 ...