Retirement Plan Participant Files Class Suit Alleging Postage Overspending
(March 21, 2016, 11:45 AM EDT) -- NEW YORK — A retiree filed a class complaint March 16 in the U.S. District Court for the Southern District of New York accusing the administrator of his multiple retirement plans of being irresponsible with its expenses, specifically its mailing costs (Harold Jay Lefkowitz, et al. v. Teachers Insurance and Annuity Association (TIAA), No. 16-1932, S.D. N.Y.).
(Complaint available. Document #54-160413-020C.)
“TIAA [Teachers Insurance and Annuity Association] has a fiduciary duty to administer the plans under its care economically, and it has failed to do so,”...