University Of Pennsylvania: Options For Plan Participants Doom Fee Claims

Mealey's (April 9, 2018, 10:15 AM EDT) -- PHILADELPHIA — The University of Pennsylvania and the university’s vice president of human resources, both named fiduciaries of the University of Pennsylvania Matching Plan, did not violate the Employee Retirement Income Security Act by offering numerous options, including some with high fees, as the university’s plan offers a larger mix of options, with lower fees, than the plan signed off on by the Third Circuit U.S. Court of Appeals in Renfro v. Unisys Corp., the university and vice president argue in their appellee brief filed on April 5 in the Third Circuit U.S. Court of Appeals (Jennifer Sweda, et al. v. University of Pennsylvania, et al., No. 17-3244, 3rd Cir.)....

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