Benefits & Executive Compensation News

Fidelity Workers Targeting 401(k) Keep Pushing Jury Trial

Jan. 16, 2019, 8:02 PM

Employees of FMR LLC, the parent company of Fidelity Investments, renewed their request for a jury trial in a case challenging the use of in-house mutual funds in the company’s 401(k) plan.

The employees, who say these funds allowed Fidelity to profit off their retirement savings, filed a new demand for a jury trial Jan. 15 to go together with their recently amended complaint.

A jury should decide whether the 401(k) plan fiduciaries are liable for violating the Employee Retirement Income Security Act and how much these alleged violations damaged the plan, the workers said.

Trial by jury has...

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