Embry-Riddle Sued Over Retirement Fees After Prior Suit Stumbled (2024)

Embry-Riddle Aeronautical University Inc. was hit with another proposed class action challenging its retirement plan fees two months after a lawsuit raising similar claims failed to secure class status.

The complaint, filed Tuesday in the US District Court for the Middle District of Florida, says the school mismanaged its $500 million retirement plan by overpaying for administrative services and choosing investments that carried excessive and unnecessary fees. Plaintiff Karen Garceau, who seeks to represent a class of more than 5,000 people, says the plan’s annual recordkeeping fees were more than $200 per person, when a reasonable fee would have ...