Intel Wins Suit Over Use of Alternative Investments

A federal district court judge has found that claims against Intel Corporation’s Investment Policy Committee for its retirement plans is time-barred under the Employee Retirement Income Security Act’s (ERISA)’s three-year statute of limitations.

Christopher M. Sulyma filed a lawsuit on behalf of two proposed classes of participants in the Intel 401(k) Savings Plan and the Intel Retirement Contribution Plan, claiming that the defendants breached their fiduciary duties by investing a significant portion of the plans’ assets in risky and high-cost hedge fund and private equity investments through custom-built target-date funds.

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