Benefits & Executive Compensation News

Anthem 401(k) Plan Investors Get Partial Class Status

Sept. 17, 2018, 3:41 PM

Investors in Anthem Inc.'s 401(k) plan can proceed as a class on one of their claims about how the health-care giant managed their retirement savings.

That claim is that the company violated federal benefits law by investing in an imprudent money market fund that allegedly resulted in tens of millions of dollars in plan losses.

The Sept. 14 ruling came more than a year after Judge Tanya Walton Pratt let most of the investors’ claims move forward alleging that the retirement plan carried excessive fees and selected imprudent investments.

Pratt’s latest ruling means that workers who filed the lawsuit can...

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