Boyd Gaming, Digi-Key Face Latest 401(k) Target-Date Fund Suits

Two more employers were sued over the target-date funds in their 401(k) plans, with new lawsuits filed against electronic components maker Digi-Key Corp. and casino company Boyd Gaming Corp.

The cases center on target-date funds from American Century Investments, which isn’t a party to either lawsuit. These funds performed poorly for years and should have been swapped out for better alternatives, according to lawsuits against Boyd Gaming in the US District Court for the District of Nevada and Digi-Key in the US District Court for the District of Minnesota.

• The complaints were filed Tuesday by Milberg PLLC, which has filed ...