About Us
Brian Byrne’s story is one of determination, family responsibility, and the courage to advocate for fairness in the face of powerful institutions. His role as lead plaintiff in a class action lawsuit against a major financial services organization is rooted in a lifetime of hard work and a commitment to standing up for what’s right.
Brian enlisted in the United States Navy after graduating from high school. His deployments took him across the world in his years of service. He ultimately settled back in Colorado, the place he considers home, and he embarked on a career in financial services. In 2007, he joined TIAA (the Teachers Insurance and Annuity Association of America), which provides retirement plans and investment products, primarily serving employees in academic, research, medical and cultural fields. Founded by Andrew Carnegie over a century ago, TIAA built its reputation on trust and sound management, promising to safeguard the retirement savings of educators, research institutions, nonprofit workers and others committed to service-oriented careers.
A Career and Caregiving
It was a good fit for Brian, who also faces a major life challenge. One of his children was born with CHARGE Syndrome, a rare congenital disorder that affects his son’s sight, hearing and his heart among other challenges. As his son’s primary caregiver, Brian understood the importance of steady work and financial security, not just for himself but for the future he hoped to provide for his child.
Brian left TIAA in 2015 as a casualty of mass layoffs and became a full-time caregiver for his son. “I found that being a stay-at-home dad suits me quite well,” he notes. He later returned to the organization in 2021 for about a year and a half. Today, he has taken on the caregiving role permanently. Throughout these transitions, he was reassured that his financial assets were in good hands.
“I had always been really confident in TIAA and happy with TIAA as an organization, and it was my plan to leave all of the retirement money that I had earned and accrued while working there, which cumulatively was just over a 10-year period. I wanted to leave that with TIAA,” he recalls.
Discovering Wrongful Charges and Mismanagement
But Brian’s trust in TIAA did not last. While comparing TIAA’s performance with his other retirement accounts, he noticed a material deviation of the CREF Growth Fund performance from its benchmark. He also noticed that he was part of a group of former and current TIAA employees who were paying unfairly higher fees. TIAA wasn’t just underperforming and overcharging; there were legitimate violations of ERISA, the Employee Retirement Income Security Act of 1974. Effectively, the organization Brian worked for and trusted his own retirement with was failing to fulfill its fiduciary duties.