Fiduciary Best Practices Helped NYU Win ERISA Class Action

By Arthur Marrapese (September 5, 2018, 2:46 PM EDT) -- On July 31, 2018, the federal court for the Southern District of New York in Sacerdote v. New York University ruled in favor of New York University in the first university 403(b) fee case to go to trial. District Judge Katherine B. Forrest's opinion in Sacerdote highlights the various fiduciary governance practices the NYU fiduciaries followed in making the decisions at issue in the case. This article summarizes the fiduciary practices and explains how they helped the NYU fiduciaries prevail at the trial level....

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