Since 2016, over 20 class-action lawsuits have been filed against colleges and universities over the fees and investment options offered in their 403(b) retirement plans. Despite the fact that none of these cases have yet to prove fruitful for the plaintiffs in litigation, the lawsuits are resulting in sizeable settlements. We will take a look at the claims that were made in those cases, potential vulnerabilities for 403(b) plan sponsors, and the steps 403(b) plan sponsors should be considering to help mitigate and protect themselves against these potential risks.