Prudential Defends Victory Over In-House 401(k) Funds on Appeal

Prudential Insurance Co. of America defended its retirement plan management processes, telling the Third Circuit that litigation over the in-house funds in its workers’ 401(k) plan was properly rejected based on its strong fiduciary practices.

The undisputed record shows Prudential followed a “meticulous” decision-making and monitoring process for its retirement plan that relied on the “investment expertise of multiple layers of seasoned investment professionals,” the company told the US Court of Appeals for the Third Circuit in a brief filed Thursday.

After nearly three years of discovery, the employees who challenged the plan’s investment lineup found no evidence suggesting Prudential ...