Notice: amp_is_available was called incorrectly. `amp_is_available()` (or `amp_is_request()`, formerly `is_amp_endpoint()`) was called too early and so it will not work properly. WordPress is currently doing the `pre_get_posts` hook. Calling this function before the `wp` action means it will not have access to `WP_Query` and the queried object to determine if it is an AMP response, thus neither the `amp_skip_post()` filter nor the AMP enabled toggle will be considered. It appears the theme with slug `publisher` is responsible; please contact the author. Please see Debugging in WordPress for more information. (This message was added in version 2.0.0.) in /home/runcloud/webapps/techilive/wp-includes/functions.php on line 5313
Columbia Settling Retirement Plan Lawsuit | Inside Higher Ed - TechiLive.in

Columbia Settling Retirement Plan Lawsuit | Inside Higher Ed

0

Columbia University in New York plans to pay $13 million and make changes to its retirement plan management in order to settle a class action complaint.

Details about the settlement were made public in a recent court filing in U.S. District Court in New York, Pensions & Investments reported. The sides had announced a preliminary settlement without sharing terms in April.

At issue are two lawsuits filed in August 2016 that were later consolidated. Plaintiffs alleged the university and its fiduciaries charged unreasonable record-keeping fees and kept low-performing investments in two 403(b) retirement plans.

Loading...

Columbia does not agree with the allegations but is happy to put the case behind it, the university told Pensions & Investments in a statement. An attorney representing the plaintiffs told the publication that settlement terms will improve retirement plans for university employees and retirees.

The suit against Columbia was one of a spate filed in 2016 alleging retirement plans at wealthy universities charged employees unreasonable and excessive fees. By last year, several of those lawsuits had been settled for amounts ranging from $3.5 million at Brown University to $18.1 million at the Massachusetts Institute of Technology.

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

Loading...

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Education News Click Here 

 For the latest news and updates, follow us on Google News

Loading...

Read original article here

Denial of responsibility! TechiLive.in is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – admin@techilive.in. The content will be deleted within 24 hours.

Leave a comment