Fluor Corp. 401(k)'s Custom Target Date Funds Survive Legal Test

Texas-based engineering and construction firm Fluor Corp. defeated a proposed class action challenging the customized target date funds in its $3.4 billion 401(k) plan.

Judge Brantley Starr dismissed most of the case for lack of standing, explaining that one of the two named plaintiffs invested in none of the funds challenged by the lawsuit, while the other invested in only three. The performance and fees of investments not selected by a participant have no effect on the value of that participant’s account, he said.

Courts are split on whether retirement plan participants have standing to challenge any funds in their ...