A U.S. District Court judge threw out a case against Microsoft which claimed that the BlackRock LifePath Index Funds suite of target-date funds was an imprudent investment choice for their plan participants.<\/p>\n
Plaintiff plan participants claimed Microsoft selected BlackRock TDFs that offered lower fees but were not performing as well as comparative TDFs. The claim was one of a bunch of lawsuits\u00a0filed by the Miller Shah law firm against companies who offered the TDF, including Booz Hamilton, Cisco, Citigroup and Stanley Black & Decker.<\/p>\n
The judge claims that the plaintiffs failed to prove that comparative TDFs outperformed BlackRock\u2019s funds, and that it is not clear plan participants would have invested in a different TDF if other options had been given.<\/p>\n
The judge also claimed that the plaintiffs failed to show that Microsoft breached its fiduciary duty under ERISA by not divesting from the BlackRock TDFs.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" A U.S. District Court judge threw out a case against Microsoft which claimed that the BlackRock LifePath Index Funds suite of target-date funds was an imprudent investment choice for their plan participants. Plaintiff plan participants claimed Microsoft selected BlackRock TDFs … Continue reading