Utah-based information technology company Ivanti Inc. is the latest employer to face a federal lawsuit over the American Century Investments target-date funds in its workers’ 401(k) plan.
The proposed class action, filed Wednesday in the US District Court for the District of Utah, says Ivanti workers lost out on retirement savings because these funds “glaringly underperformed under all investment metrics.” It’s the latest in a string of at least 10 lawsuits filed this year by Milberg PLLC against employers that offer American Century target-date funds, with other cases centering on retirement plans sponsored by FJ Management Inc., Insulet ...
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