News & Analysis as of

Benefit Plan Sponsors Breach of Duty Tibble v Edison Int

Mintz - Employment Viewpoints

The Big Mistake Too Many Retirement Plan Fiduciary Committees are Making—And What to Do About It

Formally organized retirement plan committees have become the norm in recent years. Retirement plans, particularly 401(k) plans, have increasingly adopted consultant-advised governance structures that include fiduciary...more

Locke Lord LLP

Supreme Court Ruling Emphasizes Need for Plan Monitoring

Locke Lord LLP on

It appears court decisions frequently impact retirement plans. Starting with the U.S. Supreme Court, what impact will its recent ruling — confirming the ability of 401(k) participants to challenge high-cost investment options...more

King & Spalding

UPDATE: The U.S. Supreme Court Decides ERISA Statute of Limitations Case – Implications for Plan Fiduciaries

King & Spalding on

Last November, we reported that the Supreme Court had granted certiorari in Tibble v. Edison International, a Ninth Circuit decision holding that a claim that a plan fiduciary breached its duty of prudence in selecting plan...more

Tucker Arensberg, P.C.

United State Supreme Court Confirms ERISA Fiduciary’s Continuing Duty To Monitor Investments

Tucker Arensberg, P.C. on

In its Tibble v. Edison International decision the United State Supreme Court confirmed that the scope of an ERISA fiduciary’s duty of prudence continues after initial investments are made and imposes an ongoing duty to...more

Proskauer - Employee Benefits & Executive...

U.S. Supreme Court Says “Regular Review” of ERISA Investments Required

ERISA plan fiduciaries charged with responsibility for selecting, monitoring or removing plan investment options should pay close attention to the U.S. Supreme Court’s recent ruling in Tibble v. Edison Intl., 135 S. Ct. 1823...more

Womble Bond Dickinson

Once Again, the Supreme Court Upsets Precedent in Fourth and Eleventh Circuit

Womble Bond Dickinson on

As we reported in our March 11, 2014 article, the Eleventh and Fourth Circuit Court of Appeals definitively rejected the “continuing breach” theory in recent disputes involving statute of limitations deadlines in ERISA cases...more

Polsinelli

Supreme Court Reminds Companies to Monitor 401(k) Plan Investments, Sets Parameters for "Regular Review" Requirements

Polsinelli on

Companies and in-house fiduciaries face increasing scrutiny these days over their 401(k) and other retirement plans. This was underscored again recently by a key Supreme Court ruling. In Tibble v. Edison International, the...more

Carlton Fields

What Does the Supreme Court’s Tibble Ruling Mean for Practitioners and ERISA Fiduciaries?

Carlton Fields on

The Supreme Court’s recent decision in Tibble v. Edison Int’l, et al., --- S.Ct. ---, Case No. 13-550, 2015 WL 2340845 (May 18, 2015), is perhaps more interesting for what the Court did not decide than for what it did....more

Poyner Spruill LLP

Yes Virginia, There is a Duty to Monitor Retirement Plan Investments

Poyner Spruill LLP on

In a recent unanimous ruling the U.S. Supreme Court confirmed what most retirement plan professionals already knew: ERISA requires plan investment fiduciaries to monitor investments and remove imprudent ones. Surprisingly to...more

Parker Poe Adams & Bernstein LLP

Supreme Court Affirms Duty to Monitor Plan Investments

The Supreme Court’s decision will undermine a plan fiduciary’s ability to assert a statute of limitations defense based on when an investment option was added; rather, the six year statute of limitations will be measured from...more

Morgan Lewis

Tibble v. Edison International Decision Finds Ongoing Duty to Monitor Investments in 401(k) Plans

Morgan Lewis on

The Supreme Court holds that ERISA’s limitations period does not bar an alleged breach for failure to monitor a plan’s investments. Background - On May 18, the Supreme Court issued a unanimous decision in Tibble v....more

BakerHostetler

Unanimous Supreme Court Vacates Tibble v. Edison International: Much Ado About Nothing? Or Something More?

BakerHostetler on

On May 18, 2015, the United State Supreme Court, by a 9-0 vote, vacated and remanded the Ninth Circuit’s holding in Tibble, et al. v. Edison International, et al., 729 F.3d 1110 (9th Cir. 2013). Tibble is an “excessive fee”...more

Seyfarth Shaw LLP

Continuing Duty To Monitor? Yes. Scope of That Duty? Wait And See…

Seyfarth Shaw LLP on

In a case we have blogged about before, the Supreme Court in Tibble v. Edison International unanimously has concluded that an ERISA fiduciary has a continuing duty to monitor investments made in an ERISA governed savings...more

Davis Wright Tremaine LLP

ERISA Plan Sponsors – Are You Monitoring Investments and Fees?

In a unanimous decision, the U.S. Supreme Court vacated the Ninth Circuit’s decision in Tibble v. Edison International and remanded for determination of the scope of an ERISA plan fiduciary’s duty to monitor plan investments...more

Jackson Walker

Supreme Court Vacates Ruling on Time-Barred ERISA Claims

Jackson Walker on

In Tibble v. Edison Int’l1, the U.S. Supreme Court today vacated a Ninth Circuit ruling that Edison plan beneficiaries' ERISA (Employee Retirement Income Security Act) fiduciary claims against the company based on allegedly...more

McGuireWoods LLP

Supreme Court: ERISA Imposes Continuing Fiduciary Duty to Monitor Plan Investment Options

McGuireWoods LLP on

Section 409 of ERISA imposes personal liability on a plan fiduciary to make good to the plan any losses resulting from the fiduciary’s breach of any duties imposed by Title I of that statute. Section 413 provides generally...more

Snell & Wilmer

Supreme Court Confirms that Plan Fiduciaries have a “Continuing Duty of Some Kind” to Monitor Investments

Snell & Wilmer on

In Tibble v. Edison International, Justice Breyer held, for a unanimous Supreme Court, that “a fiduciary normally has a continuing duty of some kind to monitor investments and remove imprudent ones.” In so ruling, the Court...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Tibble v. Edison International

On May 18, 2015, the United States Supreme Court decided Tibble v. Edison International, No. 13-550, holding that under the Employment Retirement Income Securities Act (ERISA), a plaintiff may timely commence a claim for...more

Miller Canfield

SCOTUS: Timeliness of Fiduciary Breach Claim May Depend on Alleged Failure to Monitor Selection of Investment Options

Miller Canfield on

On May 18, 2015, the U.S. Supreme Court unanimously concluded that the timeliness of an Employee Retirement Income Security Act (ERISA) breach of fiduciary claim regarding the selection of investments in a 401(k) plan is not...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Set it and Forget it? Not so Fast, Says the Supreme Court in Tibble

On May 18, 2015, the Supreme Court of the United States rendered a much anticipated (by ERISA attorneys, at least) decision in Tibble v. Edison International, clarifying a relatively narrow but still significant issue...more

Proskauer - Employee Benefits & Executive...

U.S. Supreme Court Sends ERISA Investment Fee Case Back For Further Review

Today, the U.S. Supreme Court ruled that an ERISA plan participant may allege that a plan fiduciary breached the duty of prudence by not properly monitoring the plan’s investment options as long as the alleged breach of the...more

McGuireWoods LLP

Tibble Supreme Court Argument: Fiduciaries Must Monitor Investments

McGuireWoods LLP on

Section 413 of ERISA provides in general that no action for breach of fiduciary duty may be brought after the earlier of: (1) six years after (A) the date of the last action which constituted a part of the breach, or (B) in...more

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