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Northwestern University Lawsuit

All claims in this case, in which the plaintiff alleged that the University breached fiduciary duties by allowing TIAA-CREF to mandate “inclusion of certain allegedly imprudent funds,” have been dismissed. Participants were not required to invest in such funds or any TIAA-CREF product; other options were available for participants. Additionally, according to the judge, as fees paid were within the control of participants through the investments they selected, they had options to keep the expense ratios and in turn, recordkeeping expenses, low.

www.bna.com; May 25, 2018.