SCOTUS Seeks Fed Input on Excessive Fee Suit

“The nation’s highest court has sought the federal government’s input on a case that the law firm of Schlichter Bogard & Denton says is having a “chilling effect” on excessive fee litigation.

Specifically, the U.S. Supreme Court has “invited” the Acting Solicitor General to “file a brief in this case expressing the views of the United States” in a suit brought against Northwestern University and the fiduciaries of its 403(b) plan. It was the second of the 403(b) university excessive fee suits to go to trial—and the second in which the university defendants prevailed, back in May 2018.” Click here to continue reading.

Source: NAPA - National Association of Plan Advisors
3-minute read.