Class Action ERISA Claims Dismissed; Texas Federal Judge Rejects Fund Benchmarks

( October 30, 2026, 8:01 AM EDT) -- DALLAS — A Texas federal judge said retirement plan participants can no more meaningfully compare a challenged Prudential Retirement Insurance and Annuity Co. guaranteed income fund to an industry benchmark than “they can compare the moon to a baseball, though they are both spheres,” dismissing with prejudice an amended class action alleging that retirement plan fiduciaries breached their duties under the Employee Retirement Income Security Act (ERISA) by retaining an underperforming fund despite concerns about offshore reinsurance arrangements and Prudential Retirement’s financial condition....