New York Federal Judge Rules That Lawsuit Against TIAA Brought by Schlichter Bogard on Behalf of Retirement Plan Participants Can Proceed

As reported by Law360,  a New York federal judge on May 31, 2024 ruled that a lawsuit brought by Schlichter Bogard on behalf of retirement plan participants against Teachers Insurance Annuity Association of America (TIAA) can proceed.

In the lawsuit, plaintiffs represented by Schlichter Bogard allege that TIAA violated federal law by pushing retirement plan participants to transfer their assets into higher-fee, TIAA-sponsored offerings, with little upside to participants.

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