Johns Hopkins University Sued Over Retirement Plan - Higher Education
Higher Education News and Jobs

Johns Hopkins University Sued Over Retirement Plan

by Associated Press

BALTIMORE —Johns Hopkins University has joined a growing list of schools accused by a law firm of offering poorly performing retirement funds that charge excessive fees.

St. Louis-based firm Schlichter, Bogard & Denton filed a class action lawsuit Thursday in U.S. District Court in Baltimore on behalf of more than 24,000 Johns Hopkins University employees.

The lawsuit says the employees lost a combined $35 million or more in the last six years in excessive fees. It also says the school offered too many investment options, some of which had historically underperformed.

University officials said in a statement that the school’s retirement offerings are “generous” and “carefully managed.”

The firm also filed eight similar lawsuits this week against universities around the country, including New York University, Yale University and Duke University.

 

RELATED ARTICLES >>
UT System President Announces Plan to Retire Joe DiPietro University of Tennessee (UT) System president Joe DiPietro announced this week that he will step down from active employment on Nov. 21 and use his remaining vacation days until Valentine’s Day of next year when he will officially re...
Burnim Comes Out of Retirement to Lead UMES on Interim Basis Higher education officials in Maryland have called seasoned college administrator Dr. Mickey Burnim out of retirement to serve as interim president of the University of Maryland at Eastern Shore (UMES) starting next week as a replacement for retired ...
Professor Retires After Six Decades at Morehouse Morehouse College’s recent announcement of the retirement of veteran political science professor Dr. Tobe Johnson, Jr. signaled the end of an era for an academic legend. The announcement came as a surprise to some and a reminder to others of the v...
McConnell Retiring as College of Charleston President CHARLESTON, S.C. — College of Charleston President Glenn McConnell is retiring this summer, ending nearly five decades in public service. McConnell said Monday he took a hard look at his health and energy at age 70 and determined it is time to...
Semantic Tags: