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Brown University Faces Familiar Allegations in 403(b) LawsuitWith wording that seems to be duplicated from filings against other higher education institutions, a complaint has been filed against Brown University and fiduciaries of its Deferred Vesting Retirement Plan and Legacy Retirement Plan. As with other lawsuits, the complaint alleges that because the marketplace for retirement plan services is established and competitive, and because the plans have more than $1 billion in assets, the fiduciaries have tremendous bargaining power to demand low-cost administrative and investment management services and well-performing investment funds, but instead, they caused the plans to pay unreasonable and excessive fees for investment and administrative services.Read more > |
A Heavy LoadUnderstanding Millennials’ competing financial priorities and what plan sponsors can do.Read more > |
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