By Carolina Bolado (November 24, 2021, 2:48 PM EST) — The College of Miami has agreed to pay $1.85 million to settle a proposed class swimsuit introduced by present and former staff who say the faculty’s $1 billion retirement plan was saddled with extreme charges.
The plaintiffs requested a Florida federal choose on Nov. 23 to approve the deal, which, along with the money fee, additionally consists of structural safeguards to guard the retirement financial savings for the almost 16,000 present and former staff within the class.
The deal is the “product of hard-fought litigation, which included substantial movement observe, discovery, the retention of educated and certified consultants who carried out injury analyses,…
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