Retirement investors challenging the fees tied to a $2.1 billion 401(k) plan administered by Pentegra Retirement Services Inc. won court orders certifying their case as a class action and allowing them to try the bulk of their claims before a jury.
The investors are entitled to a jury trial on their claims seeking money damages to make up for the defendants’ alleged breaches of fiduciary duty, Judge Philip M. Halpern said. But their claims seeking to remove the plan’s fiduciaries are equitable in nature and therefore can’t be tried by jury, Halpern said.
The opinion, issued Tuesday in the ...