Charles Schwab Corp. defended its 401(k) plan in federal court even as the company tries to have a dispute over the plan’s investment offerings sent to arbitration.
Schwab fulfilled its obligations under federal benefits law when it included affiliated mutual funds in the $3 billion retirement plan covering its workers, the financial company told a federal judge Nov. 8. A proposed class action by plan investors should be partially dismissed, Schwab said, because it doesn’t specify any flaws in the company’s process for selecting and monitoring plan investments.
Schwab is in the midst of arguing that the lawsuit belongs in ...
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