Straus v. Prudential Employee Savings Plan

MEMORANDUM & ORDER

DEARIE, District Judge.

Plaintiffs, all of whom are participants in the Prudential Employee Savings Plan (“PESP” or the “Plan”), bring this action under Section 502 of the Employer Retirement Income Security Act of 1974 (“ERISA”), 29 U.S.C. § 1132. Plaintiffs allege that defendants discriminated against them in violation of Section 510 of ERISA, 29 U.S.C. § 1140, by adopting and retroactively applying arbitrary limitations on their right under the Plan to transfer funds from one investment option to anoth er in unlimited amounts. Plaintiffs also claim that, in adopting these…