Amdocs Ex-Employee Sues Over 401(k) Plan’s Stable Value Fund

Amdocs Inc. was sued by a former employee who says the communications software company’s 401(k) plan is plagued by a poorly performing stable value fund that should have been swapped for a better alternative.

The stable value fund that held about $118 million worth of plan assets as of 2023 produced subpar returns while exposing participants to excessive risk, the worker said in a proposed class complaint filed Wednesday in the US District Court for the Northern District of Texas. The fund from Prudential Financial Inc., which is designed to provide a modest, guaranteed rate of return and protect against ...