Northeastern University Inks $725,000 Retirement Plan Settlement

Northeastern University signed a $725,000 class settlement with workers challenging their retirement plan’s fees and investment options.

The proposed deal covers thousands of people who participated in the Northeastern plan since June 2016, and it represents more than 50% of the workers’ estimated damages on their challenge to the plan’s recordkeeping fees. It also requires Northeastern to continue using an outside consultant to assess the plan’s fees and investment options for at least five years, according to a Wednesday motion asking Judge Nathaniel M. Gorton of the US District Court for the District of Massachusetts to sign off on the ...