Bloomberg Tax
Aug. 21, 2023, 4:30 PM

B. Braun Medical Wins Bench Trial Over Management of 401(k) Plan

Bernie Pazanowski
Bernie Pazanowski

B. Braun Medical Inc. used objectively prudent procedures to manage its $790 million 401(k) plan for over 6,600 participants, a federal trial court said.

Braun’s retirement committee didn’t violate the Employee Retirement Income Security Act in the way it handled the plan’s investment funds and recordkeeping expenses during the class period from 2014 to present, Judge Edward G. Smith concluded after a non-jury trial in the US District Court for the Eastern District of Pennsylvania.

Four former employees filed the class action, claiming that the company’s retirement plan offers needlessly expensive mutual funds and pays excessive administrative fees.

Smith said ...

Learn more about Bloomberg Tax or Log In to keep reading:

Learn About Bloomberg Tax

From research to software to news, find what you need to stay ahead.

Already a subscriber?

Log in to keep reading or access research tools.