A case involving Cornell University and its employee retirement plan will be heard by the U.S. Supreme Court next week.
The Cornell Daily Sun reports the plaintiffs, representing more than 30,000 current and former employees participating in the University’s 403(b) retirement plans, which hold nearly $3.4 billion in net assets, allege that Cornell fiduciaries mismanaged the plans. They claim fiduciaries allowed excessive fees, retained underperforming investments, and engaged in prohibited transactions.
The case is scheduled to go before the Supreme Court on January 22nd.
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