Boston College’s $330,000 Retirement Plan Fee Deal Clears Hurdle
Boston College trustees secured initial court approval for a $330,000 settlement aimed at resolving a class action challenging how they managed a pair of retirement plans covering university employees.
The deal requires the defendants to continue using an investment consultant for five years and to ensure that their retirement plan recordkeepers share any survey data they collect about employees’ satisfaction with their services. The settlement amount represents about half of the midpoint of the workers’ range of estimated damages with respect to their challenge to the plan’s recordkeeping fees, according to the settlement motion.
Judge William G. Young of …