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Carlton Fields

D.C. Circuit Affirms Decision Vacating and Remanding Arbitration Decision

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The D.C. Circuit Court of Appeals recently affirmed a district court’s decision to vacate and remand an arbitration decision in a case concerning companies’ withdrawal from a retirement fund....more

Shumaker, Loop & Kendrick, LLP

Plan Sponsors on Alert After Recent Supreme Court Decision

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On January 24, 2022, the U.S. Supreme Court handed down an important decision affecting plan fiduciaries who select investment options available to participants in a self-directed employee retirement plan (such as a 401(k)...more

Patterson Belknap Webb & Tyler LLP

SCOTUS ERISA Fee Litigation Update: Hughes et al. v. Northwestern University

Patterson Belknap Webb & Tyler LLP on

On January 24, 2022, in a rare, unanimous 8-0 decision (Justice Barrett recused herself from the case), the Supreme Court of the United States (the “Supreme Court”) vacated a Seventh Circuit affirmation of the dismissal of...more

Burns & Levinson LLP

ERISA Fiduciary Prudence Does Not Necessarily Reflect Modern Portfolio Management - ERISA Prudence And Hughes V. Northwestern...

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The U.S. Supreme Court recently heard arguments in Hughes v. Northwestern University, in which the Seventh Circuit Court of Appeals had rejected claims that the fiduciaries of two defined contribution retirement plans at...more

Goodwin

Hughes et al v. Northwestern University et al – Supreme Court Urges Courts to Undertake a Context-Specific Scrutiny of...

Goodwin on

On Monday, the U.S. Supreme Court vacated the Seventh Circuit’s decision in Hughes v. Northwestern University, an important ERISA case. Although the Court’s decision vacated a Seventh Circuit victory for plan sponsor...more

Miller Canfield

Important Reminder from the U.S. Supreme Court - Just Giving Plan Participants Options Is Not Enough to Satisfy the Duty of...

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KEY TAKEAWAYS - ..Plan fiduciaries have a duty of prudence to independently evaluate on an ongoing basis investments offered in a plan’s menu of options and remove any imprudent ones. ..Plan participants’ ultimate...more

Parker Poe Adams & Bernstein LLP

U.S. Supreme Court Says Retirement Plan Must Scrutinize Expenses Even if It Offers Lower-Fee Options

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In recent years, participants in 401(k) and similar employer-sponsored retirement plans have filed class action suits alleging that the plans contain overly expensive investment options. On Monday, the U.S. Supreme Court...more

Fisher Phillips

Supreme Court Revives ERISA Suit and Highlights the Necessity to Monitor Plan Investment Options: A 5-Step Compliance Roadmap

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In a unanimous decision that should serve as a wakeup call to those administrating employee retirement plans, the Supreme Court just reaffirmed and highlighted the ongoing duty of ERISA plan fiduciaries to monitor investment...more

Dorsey & Whitney LLP

The Supreme Court - February 3, 2021

Dorsey & Whitney LLP on

Today, the Supreme Court of the United States issued the following three decisions: Federal Republic of Germany v. Philipp, No. 19-351: In this Foreign Sovereign Immunities Act (“FSIA”) case, the respondents - heirs of...more

ArentFox Schiff

Supreme Court Opinion Sheds No Light on Elusive Stock-Drop Pleading Standard

ArentFox Schiff on

In January, the Supreme Court issued its highly anticipated opinion in Retirement Plans Committee of IBM v. Jander, No. 18-1165, a case that promised to clarify the pleading standard applicable to ERISA stock-drop cases. But...more

Littler

Second Circuit Rules ERISA Plan Can Be Reformed Absent Any Mistakes, Fraud or Other Inequitable Conduct

Littler on

The Second Circuit recently considered for the first time whether the equitable remedy of reformation was available under the Employee Retirement Income Security Act (ERISA) where a court determined that the written terms of...more

Seyfarth Shaw LLP

Fourth Circuit Sides With EEOC: Back Pay Damages Are Mandatory Under The ADEA

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Seyfarth Synopsis: Although back pay has been awarded in Age Discrimination in Employment Act (ADEA) cases for quite some time, few courts have specifically addressed whether these damages are discretionary or mandatory. In...more

Bradley Arant Boult Cummings LLP

401(k) Fee Litigation to Increase Following Tibble Decision

Bradley Arant Boult Cummings LLP on

As a result of the U.S. Supreme Court’s decision in Tibble v. Edison Int'l, it will now be easier for participants in 401(k) and other participant-directed plans to bring lawsuits challenging investment options added to the...more

Locke Lord LLP

Locke Lord QuickStudy: The Supreme Court Opines In Tibble v. Edison That The Duty to Monitor Investments Is Ongoing

Locke Lord LLP on

In a highly anticipated decision, the United States Supreme Court recently held that a 401(k) fiduciary breach lawsuit may proceed even when the claim is based on an imprudent selection of investment funds that occurred more...more

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