Pretrial Date Set for Ameriprise Case

The case against Ameriprise Financial Inc. over its 401(k) investment options is moving forward with a pretrial conference date set for early next month.

The United States District Court for the District of Minnesota scheduled an initial pretrial conference for January 7, 2013 at 2 p.m.

The plaintiffs – all of whom are or were Ameriprise 401(k) participants –  allege Ameriprise provided “imprudent and unreasonably expensive investment options” for its 401(k) participants and breached their fiduciary duty under the Employee Retirement Income Security Act (ERISA).

The plaintiffs propose a trial date of December 9, 2013, or after, and the defendants – alleged fiduciaries to the plan under ERISA – propose a trial date of July 31, 2014, or after.

Earlier this month, a judge denied Ameriprise’s motion to dismiss (see “Ameriprise Fund Selection Suit Moves Forward”).