Sisters of Charity’s JPMorgan Retirement Funds Survive Challenge

An Intermountain Healthcare Inc. subsidiary defeated a lawsuit challenging the JPMorgan Chase & Co. target date funds in its employees’ retirement plan, but workers can try again in an amended complaint.

The lawsuit against Sisters of Charity of Leavenworth Health System makes “broad allegations” about the similarities between the JPMorgan funds and the funds held up as superior alternatives, but there’s little “factual enhancement” and no details about the funds’ management styles, Judge Lewis T. Babcock said Monday. This flunks the standard set by the US Court of Appeals for the Tenth Circuit in Matney v. Barrick Gold of N. ...