Daily Labor Report®

TIAA Wades Into SCOTUS Battle Over College Retirement Plan

Jan. 17, 2020, 3:17 PM

Teachers Insurance & Annuity Association of America is backing the University of Pennsylvania’s bid for U.S. Supreme Court review of a decision allowing university employees to advance a lawsuit targeting the school’s retirement plan.

The Supreme Court should take the case and affirm that the pleading standard it established in a 2007 antitrust case also applies to fiduciary breach claims under the Employee Retirement Income Security Act, TIAA said in a Jan. 15 brief. If the court doesn’t intervene, Penn and other employers will be forced to submit to expensive and burdensome discovery, even when there’s a lawful explanation for...

To read the full article log in. To learn more about a subscription click here.