CenturyLink Faces ERISA Lawsuit on Custom Large Cap Fund Design [telecom]

Have a question or want to start a discussion? Post it! No Registration Necessary.  Now with pictures!

The complaint seeks to state a claim - without relying on hindsight -
by arguing the underperformance of a large cap fund was "virtually
guaranteed because it contained a serious design flaw from inception."

By John Manganaro

The latest Employee Retirement Income Security Act (ERISA) lawsuit,
emerging from the U.S. District Court for the District of Colorado,
targets CenturyLink for alleged mismanagement of an active large cap
U.S. stock fund offered to defined contribution plan participants.

By way of background, in 2011, CenturyLink appointed its subsidiary
CenturyLink Investment Management (CIM) as its retirement plan
investment fiduciary. In 2012, CIM formed the CenturyLink,
Inc. Defined Contribution Plan Master Trust and merged the assets of
its two 401(k) plans into the master trust. According to the text of
the complaint, through the master trust, CIM then reestablished the
investment options for the plan considered here, including a number of
custom funds designed by CIM.


Bill Horne
(Remove QRM from my email address to write to me directly)

Site Timeline