401(k) Lawsuit Exposes Ongoing Issues with Underperforming Funds

A 401(k) lawsuit filed against Bloomberg puts a familiar committee problem in plain view: what happens when allegedly underperforming funds stay in the menu year after year. The complaint points to two funds that allegedly lagged benchmarks and peers for a decade or longer, while participants kept sizable balances invested. Documented watch-list criteria, review cadence, and removal discipline can shape the full file.

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