Researcher Draper Can’t Dodge Challenge to Retirement Plan Fees

A former Charles Stark Draper Laboratory Inc. employee advanced his proposed class action accusing the government contractor and research firm of mismanaging a pair of retirement plans through high fees and badly performing funds.

The worker has standing to challenge both plans—even though he was covered by only one of them—because his lawsuit alleges “uniform practices” that violate the Employee Retirement Income Security Act, Judge Angel Kelley said Tuesday. Kelley, who sits in the US District Court for the District of Massachusetts, also denied Draper’s request for more details on the worker’s ERISA claims for prohibited transactions, saying the complaint ...