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Supreme Court Will Hear Northwestern University 403(b) Plan Excessive Fee Case
Verrill Dana LLPLink to more items from this source
July 13, 2021

"According to the Solicitor General, the inclusion of more than 100 retail class mutual funds in the plan is sufficient to support a viable claim of breach of fiduciary duty. Though conceding that cost is not the only appropriate consideration in selecting funds, the Solicitor General argued that where cost is the only difference between funds, it is imprudent to select the higher cost alternative." [Hughes v. Northwestern Univ., No. 18-2569 (7th Cir. Mar. 25, 2020; cert. pet. granted No. 19-1401, Jul. 2, 2020)]

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