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Washington University Workers Want Retirement Plan Suit Revived

Jan. 11, 2019, 4:09 PM

Employees of Washington University in St. Louis asked a federal appeals court to revive their challenge to the school’s retirement plan based on U.S. Supreme Court precedent recognizing a fiduciary’s duty to monitor investments.

The plan’s fiduciaries didn’t act prudently when they failed to monitor the plan’s investments and record-keeping fees, the workers told the U.S. Court of Appeals for the Eighth Circuit Jan. 9.

The federal judge who dismissed their lawsuit ignored the Supreme Court’s decision in Tibble v. Edison Int’l, which imposes an ongoing duty on retirement plan fiduciaries to monitor plan investments, the workers said.

The ...