A federal judge has dismissed—for the second time—a lawsuit against Bechtel Global that alleged the $5.7 billion plan’s default managed account investment led to excessive fees and subpar returns, arguing that a target-date fund would have been a better alternative.

Congratulations to Hitachi Ltd., the 2024 Gold Alexander Hamilton Award winner in Working Capital & Payments!

A federal judge in Texas ruled that the company violated its ERISA duties by not focusing “on the best financial benefit” for its 401(k) plan—the biggest victory yet in a case involving ESG investing.

“Issuers are taking advantage of calm markets, low volatility, and tight spreads before Trump’s tariffs might spoil the party. ... For a record amount of issuance, there must also be a large amount of investors ready to put money at work. This is indeed the case.”