Non-Profit Universites Sued Over 403(b) Programs

Image: Ray Bartkus

I was a bit surprised to see this lawsuit as I'd pretty much kill to have the providers listed in the programs being sued (Fidelity and TIAA - who are not defendants).

I'm not getting a warm and fuzzy with this lawsuit, though it may prompt system wide change, I fear that the schools will pay out a lot of money for operating programs that were, relatively speaking, pretty good.

If you think these programs are bad, you ain't seen nothing until you've dug into the world of public K-12 403(b) programs. As I dig into the lawsuits, I'll have more commentary.

Here is a short excerpt and link to the New York Times article by Tara Siegel Bernard: