There has been a growing number of class action lawsuits alleging ERISA fiduciary breaches. This trend recently caught up with a number of prominent universities that sponsor 403(b) retirement plans. University of Pennsylvania, Duke University, Johns Hopkins University and Vanderbilt University have been sued over alleged breaches of fiduciary duties to their respective 403(b) plans. The complaints allege in part that the universities failed to meet their fiduciary responsibilities by allowing their plans to pay excessive fees for record-keeping, administrative and investment services. Emory, Cornell University, NYU, Yale, and MIT are facing similar lawsuits. Read additional commentary here.