GE Employees Ask Judge to Let Early Win in 401(k) Fight Stand

Feb. 12, 2019, 2:34 PM

General Electric Co. employees want a federal judge to not revisit her decision that allowed a lawsuit over how the company managed their retirement savings to advance.

The workers alleged they lost hundreds of millions of dollars in retirement savings because the company filled its $28.5 billion 401(k) plan with high-cost affiliated funds. Judge Indira Talwani of the U.S. District Court for the District of Massachusetts in December held that GE might have violated an Employee Retirement Income Security Act prohibited transaction rule banning the offering of affiliated mutual funds unless certain conditions are satisfied.

GE has asked Talwani to ...

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