Intel’s 6-year 401(k) lawsuit dismissed, alleging fiduciary breach over ‘private equity’ investments
This “should be the last word in a long-running challenge to the judgment of the fiduciaries of Intel Corporation’s retirement savings plans for including private fund investment alternatives in those plans,” according to attorneys Debevoise & Plimpton. “The key takeaway from the courts’ rulings in this litigation, and the correct answer under ERISA’s fiduciary construct, is that there is no one-size-fits-all approach to asset allocation or investment options that can be made available in participant-directed defined contribution plans.”Winston R. Anderson, a former Intel employee, and some of his former co-workers...


