Class Action Lawsuits Filed Against Seven University 403(b) Plans

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One law firm filed separate putative class actions in early August against the Massachusetts Institute of Technology, New York University, Yale University, Duke University, Johns Hopkins University, Vanderbilt University and the University of Pennsylvania seeking damages for breach of fiduciary duties as it relates to each one’s defined contribution retirement plans. As a higher education or non-profit organization, what steps can you take to assess your fiduciary risk management process?