Cisco Systems 401(k) Poorly-Performing Investment Options Complaint

July 29, 2022

Defined contribution plans, like 401(k)s, have become the primary way for Americans to save for retirement. They are governed by the Employee Retirement Income Security Act (ERISA). The complaint for this class action alleges that Cisco Systems, Inc., its Board of Trustees, and the Administrative Committee for the Cisco Systems, Inc. 401(k) Plan breached their fiduciary duties under ERISA by choosing and maintaining poorly-performing investment options in the plan.