ERISA Plan Participant Data Are Not Plan Assets, Federal Judge Rules

Mealey's (April 5, 2021, 9:44 AM EDT) -- GALVESTON, Texas — A federal district court in Texas on March 30 dismissed claims that Fidelity was a 401(k) plan fiduciary and engaged in a prohibited transaction when it shared participant information with its affiliates to market its products to plan participants, concluding that participant data are not “plan assets” under ERISA....