Former Employees Accuse Duke of Misusing Forfeitures
Former employees allege that Duke University chose not to use forfeited funds to reduce retirement plan expenses, even though contributions had already been offset.
Former employees have filed a complaint against Duke University and its investment advisory, accusing them of misusing forfeitures in the Duke University Faculty and Staff Retirement Plan.
Complaint Details
The complaint, Duke University et al., filed in U.S. District Court for the Middle District of North Carolina, alleges Duke University violated the Employee Retirement Income Security Act by breaching its fiduciary duties, violating ERISA’s anti-inurement provision and engaging in prohibited transactions.
According to the complaint, the defendants failed to follow a prudent process in allocating forfeited funds in a loyal or timely manner, costing participants millions of dollars.
Author's summary: Former employees sue Duke University over misused forfeitures.
More News
- Councillor accused of sex offences will not sit on Lambeth’s Investigations Committee after council rejects report
- Electric Island Expands with Five Shows and a Massive Lineup
- 7 Films To Watch During Homecoming | Essence
- Local firm wins Oman wastewater consultancy deal | MEED
- Cricket South Africa | BadgersS And Province Share Spoils In Oudtshoorn
- Government completes assessment of Sydney-Newcastle high-speed rail business case
- Ramaphosa suspends inspector general of intelligence amid conduct probe
- Did Qatari Money Drive Trump’s Push for Gaza Ceasefire?
- Netizen Voices: Backlash Against Supposed Beauty of Golden Week Traffic Jams
- Who knew that the public would end up supporting striking teachers? Not Danielle Smith and the UCP! - Alberta Politics