Vanderbilt Settles Suit Challenging Retirement Plan Fees

A federal judge has approved a $14.5 million settlement between Vanderbilt University and plaintiffs over claims they were charged excessive fees to participate in an employer-sponsored retirement plan. Roughly 20 universities have been sued, but this settlement is the largest to date, according to the National Association of Plan Advisors. The judge’s approval came after Vanderbilt University Law School Professor Michael B. Bressman withdrew his objections to the settlement.

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