The airline argued the case should be dropped partly because the ESG funds in question were not in the 401(k) plans’ core menu.
The plaintiff voluntarily dismissed the two of four defendants from the lawsuit that claims ESG factors were considered ahead of returns.
The retirement committee, recordkeeper Fidelity Investments and financial advice provider Edelman Financial Engines were accused of sacrificing fiduciary duty to pursue ‘leftist political agendas.’
More retirement plans could begin offering environmental, social and governance funds in their lineups.
Already, 18% are incorporating environmental, social and governance funds into their practices.