Georgetown Hit With ERISA Suit Over Retirement Plans
Law360 (February 28, 2018, 8:05 PM EST) -- Georgetown University has been slapped with a proposed class action accusing it of mismanaging two employee retirement plans by loading them with far too many investment options, many of which underperformed or charged excessive fees.
The complaint was filed Friday by named plaintiffs Darrell Wilcox and Michael McGuire on behalf of a proposed class of participants and beneficiaries in two employee pension benefit plans — the Georgetown University Defined Contribution Retirement Plan and the Georgetown University Voluntary Contribution Retirement Plan — who allege the university's management of the plans' assets was a violation of its fiduciary duty under the Employee Retirement...
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