On January 24, the Supreme Court issued its unanimous decision in Hughes v. Northwestern University, a case dealing with 403(b) retirement plan fiduciary duties under the Employee Retirement Income Security Act (ERISA). The court criticized the standard applied by the lower courts and sent the case back to the 7th Circuit to reevaluate the plaintiffs’... View Article
On June 7, CUPA-HR and seven other higher education associations, led by the American Council on Education (ACE), filed an amicus brief to the Third Circuit Court of Appeals in the University of Pennsylvania’s 403(b) retirement plan case. The case, Jennifer Sweda et al. v. The University of Pennsylvania, which deals with the issue of... View Article
Colleges and universities across the country face increasingly complex reporting and recordkeeping requirements around retirement benefits, and this appears to have been a key driver as institutions have scaled back their retirement plan provider options over the past few years. According to findings from CUPA-HR’s 2018 Paid Time Off, Tuition, and Retirement Benefits for Higher... View Article