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Yale University Retirement Plan Case

This class action lawsuit involves claims of fiduciary breaches due to failure to oversee the Plan, through retention of underperforming investments, costing participant millions of dollars in retirement savings, as well as excessive recordkeeping and investment fees. Plaintiffs also claim that Yale acted imprudently through the unusual delegation of responsibility for the almost $7 billion plan to one individual. Yale has provided thousands of pages of documents concerning its fiduciary processes to support the position that it exercised regular oversight for all aspects of the Plan and “consistently led the pack when it came to designing, monitoring and implementing retirement solutions for employees.” Yale has filed a motion for summary judgment, requesting a court decision without going to trial, to which the plaintiffs filed opposition papers.

www.yaledailynews.com; February 11, 2021.