In Tibble v. Edison International, the U.S. Supreme Court expanded the scope of the duty of prudence owed by ERISA fiduciaries. Although ostensibly a case about the statute of limitations, the Court ruled that trustees of...more
5/29/2015
/ 401k ,
Breach of Duty ,
Duty of Prudence ,
Duty to Monitor ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Mutual Funds ,
Retirement Plan ,
SCOTUS ,
Statute of Limitations ,
Tibble v Edison Int
On June 25, 2014, the Supreme Court of the United States, in Fifth Third Bancorp v. Dudenhoffer, declared that no “presumption of prudence” applied to fiduciaries of “employee stock ownership plans” (ESOPs). ...more
In a line of recent cases, the 2nd Circuit has limited ERISA plaintiffs’ claims for breach of the duty of prudence by holding that investments of benefit plan funds in employer securities pursuant to plans calling for such...more