Washington University in St. Louis will settle a lawsuit challenging its retirement plan fees and funds two years after the case was revived on appeal, the school and a proposed class of 27,000 employees told a Missouri federal judge.
The parties reached a deal following private mediation and plan to file a motion describing the settlement for court approval by April 15, they said Monday in a joint filing with the U.S. District Court for the Eastern District of Missouri.
The five-year-old lawsuit claims the university’s retirement plan pays excessive administrative fees and offers duplicative and poorly performing investment options. ...
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