Vanderbilt Can’t Shake Suit Over Retirement Plan Fees

Vanderbilt University is the latest school to lose an early round in litigation challenging the fees and investment options in its retirement plan.

A federal judge on Jan. 5 largely refused to dismiss a proposed class action accusing the school of running a retirement plan with excessive administrative fees, too many service providers, and high-fee investment options. The school nevertheless succeeded in having portions of the lawsuit dismissed, including claims that the school acted disloyally and confused workers by giving them too many investment options.

The Vanderbilt retirement plan, which covers more than 40,000 people and has about $3.4 billion ...