What Can We Learn From Current Retirement Plan Litigation?

Much recent retirement plan litigation involves large retirement plans of universities, hospitals and corporations. However, fiduciaries of independent school retirement plans should not assume their plan is too small to be targeted. Much of the publicity around these lawsuits has focused on plan investment quality and recordkeeping fees. Recent cases have also raised issues such as use of participant data by service providers and cyber security breaches. By applying lessons learned from retirement plan litigation, fiduciaries can take more steps to protect their plans and schools.