Microsoft Again Beats Challenge to 401(k) Plan’s BlackRock Funds

Microsoft Corp. is free from a proposed class action challenging the BlackRock Inc. target date funds in its 401(k) plan after a Washington federal court dismissed the case for the second time.

The amended complaint against Microsoft includes new comparisons and metrics for judging the BlackRock funds, but these changes aren’t enough to state a viable claim for fiduciary imprudence under the Employee Retirement Income Security Act, the court said.

“As the court noted in its prior order, courts across the country have rejected claims for breach of fiduciary duty of prudence under ERISA where the plaintiffs allege nothing more ...