ERISA Class Action Tied To Reinsurance Risks Dismissed For Failure To State Claim

( May 8, 2026, 10:05 AM EDT) -- DALLAS — A Texas federal judge dismissed without prejudice an amended putative class action complaint filed under the Employee Retirement Income Security Act (ERISA) challenging a retirement plan’s use of a Prudential Guaranteed Income Fund in its 401(k) plan, holding that the plaintiffs failed to plausibly allege fiduciary imprudence because they failed to connect the retirement plan’s offshore reinsurance arrangements, low surplus-to-liabilities ratios and allegedly underperforming crediting rates to deficiencies in the fiduciary decision-making process....