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.
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- Enforcement Agency
- Contracting Party
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- Date of Settlement Announcement
|Massachusetts Inst. of Technology||$18,100,000|