American Air Beats Ex-Workers' 401(k) Investment Option Suit

Law360 (August 6, 2020, 11:50 AM EDT) -- American Airlines has defeated an ERISA suit alleging its 401(k) plan offered an investment option that benefited the company more than workers, with a Texas federal judge quashing claims that American failed to look out for workers' best interests. 

U.S. District Judge John McBryde granted motions for summary judgment Wednesday from American Airlines, its retirement plan administration committee and the American Airlines Federal Credit Union.

His decision sunk allegations that the airline's inclusion of an investment option run by the credit union in its 401(k) plan constituted a breach of fiduciary duty under the Employee Retirement Income Security Act.

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