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When 403(b) Prudence Claims Survive Dismissal

Law360 (May 16, 2018, 2:26 PM EDT) -- In March of this year, the U.S. District Court for the District of Connecticut in Vellali v. Yale University granted in part and denied in part a motion to dismiss a lawsuit against Yale’s 403(b) plan fiduciaries. The Vellali complaint alleges that Yale’s 403(b) plan sustained losses resulting from the mismanagement of the plan’s investment and record-keeping functions.

The decision in Vellali follows similar rulings by Second Circuit district courts in connection with motions by 403(b) plan sponsors in substantially similar suits brought by the same...
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