Malone v. Teachers Insurance and Annuity Association of America, No. 1:15-cv-08038 (PKC) (SDNY)
Plaintiffs brought this class action on behalf of the University of Chicago Retirement Income Plan for Employees, the Nova Southeastern University 403(b) Plan and all similarly-situated defined contribution plans. The Complaint alleges that TIAA violates the Federal Employee Retirement Income Security Act (ERISA) by using its position as custodian for funds from various ERISA Plans to lock Plans into using TIAA as the recordkeeper for the plans, thus preventing Plans from getting a more competitive rate for recordkeeping services. The case was filed in January of 2016.