The U.S. Supreme Court will hear a case on January 22 involving Cornell University and its employee retirement plans. Plaintiffs allege the University violated federal law by allowing excessive fees, underperforming investments, and improper transactions within its $3.4 billion 403(b) retirement plan.
Lower courts dismissed most claims, but plaintiffs argue the rulings misinterpret the Employee Retirement Income Security Act (ERISA).
A Supreme Court decision could redefine fiduciary accountability nationwide, impacting how employees pursue claims and the standards employers must meet.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected].