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Federal Contractor Misconduct Database (FCMD)

The federal government routinely awards contracts to companies with histories of misconduct, including contract fraud and other violations. POGO believes that providing this website will help to improve contracting decisions and increase public knowledge of how the government spends billions of taxpayer dollars each year. Read more…

Tracey et al., v. MIT (Excessive 401(k) Fees)

Massachusetts Institute of Technology employees sued the school for alleged breach of fiduciary duties under the Employee Retirement Income Security Act (ERISA). They claimed they lost millions in retirement savings due to excessive recordkeeping fees and failure to monitor investments. MIT settled the case for $18.1 million and other non-monetary relief.

Misconduct Type
Labor
Enforcement Agency
Non-Governmental
Contracting Party
None
Court Type
Civil
Disposition
Settlement
Date of Settlement Announcement
10/29/2019
Contractors Involved Penalty
Total
Massachusetts Inst. of Technology $18,100,000
Further Information Released
Law Firm Press Release 10/29/2019
Second Amended Complaint 3/1/2018

Federal Contractor Misconduct Database