NEW YORK (AP) — Employees of the Massachusetts Institute of Technology, New York University and Yale University are suing the schools over their handling of employee retirement plans, alleging too-high fees have undercut their savings.
Missouri law firm Schlichter, Bogard & Denton, which represents the employees, said the schools' actions as retirement plan sponsors caused workers to pay millions of dollars in "unreasonable and excessive fees" related to their 401(k) or 403(b) accounts. That includes what workers paid for in record keeping expenses, as well as the fees charged by the mutual funds offered in the plans.
The average price of a gallon of gasoline in Massachusetts ticked down 3 cents this week to the lowest price at this point in the summer in more than a decade, AAA reported Tuesday, and the cost of gas is expected to remain low into the fall.
The average price of self-serve regular gas is $2.05 this week, 7 cents lower than the national average and the lowest average price in Massachusetts since mid-April, AAA said. At this time in 2015, the average price of a gallon of gas was $2.52.
