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Associated Banc-Corp Beats 401(k) Lawsuit Over In-House Funds

Oct. 3, 2022, 3:31 PM

Midwestern banking franchise Associated Banc-Corp defeated a lawsuit challenging the in-house financial products in its workers’ 401(k) plan, according to the latest ruling by a Wisconsin federal judge who’s weighed multiple retirement plan challenges over the past few weeks.

The plan participants failed to show that the challenged Associated Banc-Corp funds underperformed for a lengthy period or by a substantial amount, Judge William C. Griesbach said in a Sept. 30 opinion. Allegations of underperformance over a three- or five-year period aren’t enough to show a violation of the Employee Retirement Income Security Act, Griesbach said, and neither are claims of ...