The University of Pennsylvania is the first elite college to win complete dismissal of a lawsuit challenging the fees and investment options associated with its retirement plan.
A federal judge Sept. 21 ruled in Penn’s favor on every count in the proposed class action, which challenged the school’s retirement plan fees, investment lineup, and use of multiple plan record keepers (Sweda v. Univ. of Penn., E.D. Pa., No. 2:16-cv-04329-GEKP, 9/21/17).
This ruling is the first complete victory for a college accused of retirement plan mismanagement since the litigation series targeting Yale, Vanderbilt, Johns Hopkins, ...
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