Equitable Financial Slips 401(k) Row Despite Pro-Worker Case Law

Equitable Financial Life Insurance Co. defeated allegations that it offered a flawed stable value fund in the 401(k) plan covering its workforce, but the plaintiff plan participant can try again in an amended complaint.

The participant contends Equitable’s stable value fund performed worse than multiple competitors, but these allegations aren’t rooted in comparisons to sufficiently similar funds, Judge Jamel K. Semper said Tuesday for the US District Court for the District of New Jersey. A chart showing the performance of various stable value funds over short time periods isn’t enough to state a viable claim under the Employee Retirement Income ...