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Employee Benefits

Goldman Sachs wins dismissal of lawsuit over retirement plan funds

September 19, 2022 Reprints

Goldman Sachs Group Inc. won dismissal of a proposed class action by tens of thousands of employees over its alleged imprudent use of high-cost, underperforming in-house mutual funds as investment options in their retirement plan, Reuters reports. U.S. District Judge Edgardo Ramos in Manhattan found no proof that Goldman's 401(k) retirement committee's decision to use five funds managed by Goldman Sachs Asset Management created a conflict of interest because the affiliate received management fees.

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Goldman Sachs wins dismissal of lawsuit over retirement plan funds

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