Milliman Beats Employees’ 401(k) Target Risk Fund Class Action

Milliman Inc. employees failed to prove their claims that the actuarial and consulting company breached a duty by retaining in-house target risk funds in its 401(k) plan, a federal trial court ruled.

Lead plaintiff Joanna Mattson didn’t establish a breach of the duty of prudence under the Employee Retirement Income Security Act, Judge Thomas S. Zilly of the US District Court for the Western District of Washington said. Zilly issued the ruling Monday following a 10-day bench trial held in April.

The ruling ends a lawsuit that challenged a suite of “target risk” funds from Unified Trust Co., which ...