Milliman 401(k) Class Stays Certified After Post-Trial Defeat

The federal judge who ruled for Milliman Inc. after an eight-day trial over the target risk funds in its 401(k) plan opted against revoking the lawsuit’s class action status, despite previously signaling interest in doing so.

Judge Thomas S. Zilly on Tuesday said he “will not decertify the Class at this time” and entered judgment in line with his June opinion rejecting claims that Milliman violated the Employee Retirement Income Security Act in the course of managing the plan.

Earlier this month, Zilly ordered the parties to explain why the class shouldn’t be decertified before he enters a final judgment ...