Salesforce.com Beats 401(k) Fee, Fund Challenge for Second Time

Salesforce.com again defeated a proposed class action challenging the investments and fees in its $2 billion 401(k) plan. A California federal judge ruled for the second time that the lawsuit was based on inappropriate comparisons among investment options and allegations of minor underperformance over a short time frame.

Retirement investors challenging plan investment options under the Employee Retirement Income Security Act can’t maintain a case by comparing a plan’s actively managed funds with funds that have a passive management style, Judge Maxine M. Chesney of the U.S. District Court for the Northern District of California held Thursday.

Chesney also rejected ...