It's the first of about 20 prominent universities facing allegations over 403(b)-plan mismanagement to take such a step. : The University of Chicago has agreed to settle a retirement-plan lawsuit for $6.5 million, becoming the first of about 20 prominent universities facing allegations over 403(b)-plan mismanagement to take such a step. Plaintiffs filed the lawsuit, Daugherty et al v. the University of Chicago, in May 2017. They claimed the university caused its plan participants to pay excessive record-keeping and investment-management fees, depleting their retirement savings.