NYU Plan Participants: Fiduciary Must Transfer Funds From Imprudent Investments

(May 7, 2018, 8:04 PM EDT) -- NEW YORK — Plan documents and the Employee Retirement Income Security Act require the plan fiduciary to eliminate imprudent investment options from plans and transfer fund to other investments without participant consent, states an April 22 supplemental findings of fact and conclusions of law by the plaintiffs in a lawsuit accusing New York University (NYU) of breaching its duty of prudence in its administration and management of its retirement plan (Dr. Alan Sacerdote, et al. v. New York University, No. 16-6284, S.D. N.Y.)...