Sacerdote v. N.Y. Univ.

KATHERINE B. FORREST, United States District Judge

Each week, to ensure a more secure future, employees throughout the United States contribute portions of their paychecks to retirement savings accounts. An employer sponsoring a retirement plan becomes a fiduciary under the Employee Retirement Income Savings Act ("ERISA") and is required to act vis-à-vis a plan with the care, skill, and diligence that a prudent person would use in a similar situation. See Tibble v. Edison Int'l, --- U.S. ----, 135 S.Ct. 1823, 1828, 191 L.Ed.2d 795 (2015). Employees rely on such fiduciaries to perform their…