University Plan Participants’ Suit Over Underperforming Funds, Fees Is Dismissed

Mealey's (September 25, 2017, 12:41 PM EDT) -- PHILADELPHIA — A Pennsylvania federal judge on Sept. 21 dismissed all claims against the University of Pennsylvania and the university’s vice president of human resources by a group of University of Pennsylvania Matching Plan participants and beneficiaries who allege that the defendants enable third-party service providers to collect excessive fees, increase costs and retain underperforming funds in the plan, finding that the plaintiffs failed to state claim upon which relief could be granted (Jennifer Sweda, et al. v. The University of Pennsylvania, et al., No. 16-4329, E.D. Pa., 2017 U.S. Dist. LEXIS 153958)....