The lawsuit alleges that CFO John Rex interfered, for "commercial" reasons, with a decision by the company's investment committee to drop a set of target-date funds.
Despite tepid growth, and even declines, in sectors such as retail, hiring in healthcare, leisure and hospitality, government, and manufacturing drove a gain in payrolls last month.
IBM's recent announcement that it is switching to a "hybrid" model of defined-benefit plan could make the case that bringing back a modern take on the classic retirement benefit could support retention in a tight labor market.