Bloomberg Law
March 22, 2019, 5:41 PM

Northwestern University Gets Industry Support in Pension Appeal

Carmen Castro-Pagan
Carmen Castro-Pagan

The U.S. Chamber of Commerce and the American Benefits Council are urging a federal appeals court not to revive a lawsuit challenging how Northwestern University managed its workers’ retirement plans.

The district court was correct in dismissing the workers’ lawsuit because their allegations didn’t suggest imprudence by the fiduciaries of the two Northwestern 403(b) plans at issue in the case, the groups said in a March 21 friend-of-the-court brief filed in the U.S. Court of Appeals for the Seventh Circuit.

Northwestern is one of at least 20 universities to be sued by workers over the fees and funds in their ...