The lawsuit challenges the design and monitoring of the Large Cap Fund in CenturyLink's non-union 401(k) plan.
By Rebecca Moore
A federal judge has recommended that a lawsuit against CenturyLink and its subsidiary CenturyLink Investment Management (CIM) over the design of an investment choice in CenturyLink's non-union 401(k) plan be dismissed.
The lawsuit challenges the design and monitoring of the Large Cap Fund, an actively managed fund benchmarked against the Russell 1000 Stock Index. The fund has annual management fees of 0.41% of net assets, which is notably higher than an index fund. The fund allocated its assets between four investment firms, one actively managed mutual fund, and one large cap index fund.
formatting link