As a result of a lawsuit filed in May of 2017, the University of Chicago has agreed to pay $6.5 million to a class of plaintiffs over the mismanagement of its 403(b)-plan. The University of Chicago is the first prominent university to settle a lawsuit over allegations of retirement-plan mismanagement. There are currently 19 other pending lawsuits filed against universities across the country.
Thank you so very much for your guidance, patience, and expertise.