University 403(b) Plans - Continuation of Excessive Fee Litigation
Three more class action lawsuits were filed against the fiduciaries of plans maintained by institutions of higher education . The complaints allege acts or omissions that constitute a breach of fiduciary duty under the Employee Retirement Income Security Act with respect to tax deferred annuity programs, commonly known as "403 plans" that have been adopted and maintained under Section 403 of the Internal Revenue Code of 1986, as amended.
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