Rochester Univ. Talks Workers Out Of Litigating ERISA Suit
Law360 (January 22, 2019, 8:20 PM EST) -- A proposed class of participants in the University of Rochester's retirement plan dropped a suit Monday that claimed the school violated the Employee Retirement Income Security Act by letting the plan charge excessive fees.
The university did not change anything about the way it handles its retirement plan as a result of the negotiations, which put to bed allegations that the university's retirement plan charged workers 10 times the administrative fees that it should have, the attorney, Nancy Ross of Mayer Brown LLP, said Tuesday. She attributed the voluntary dismissal to the workers' acknowledgement of “substantial mistakes” in their complaint.
“From the beginning, there...
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