News & Analysis as of

Retirement Plan 401k Supreme Court of the United States

Fisher Phillips

Workplace Law Forecast 2024 - Your workplace law recap for 2023 and predictions for 2024 to help you prepare for the coming year.

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When I reflect on the relationship that our firm has with our clients, I’m most proud of the fact that you can always count on us. That often means defending complex litigation, steering you through regulatory threats,...more

Proskauer - Employee Benefits & Executive...

Industry Coalition Unites to Support Dismissal of ERISA Fiduciary-Breach Claims Related To BlackRock Target Date Funds

The filing of a new 401(k) plan “excessive fee” or “investment underperformance” complaint is hardly “news” these days given the proliferation of suits that have been filed over the past several years. In fact, hardly a week...more

Jackson Lewis P.C.

7th Circuit Ruling Sheds Light Into the post-Hughes 401(k) Litigation Era

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Since the Supreme Court’s January ruling in Hughes v. Northwestern University, circuit courts throughout the country have issued varying rulings regarding 401(k) fee litigation cases. These include the Ninth Circuit in Trader...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Supreme Court backs plan participants in big ERISA case

The Supreme Court told defined contribution sponsors Monday that they have to monitor all investments in plans’ lineups rather than leave the analysis to participants....more

Mintz - Employment Viewpoints

The Department of Labor Addresses 401(k) Plan Investments in Cryptocurrencies

In recently issued Compliance Assistance Release No. 2022-01 (the “Release”), the Department of Labor (the “Department”) addressed cryptocurrencies as 401(k) plan investments. To the surprise of some and the delight of...more

Shumaker, Loop & Kendrick, LLP

Plan Sponsors on Alert After Recent Supreme Court Decision

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

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

Holland & Knight LLP

Supreme Court Stresses Importance of Ongoing Monitoring of All ERISA Plan Investment Options

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In Hughes v. Northwestern University, current and former participants in Northwestern University's defined-contribution retirement plans filed litigation on behalf of the plans' participants asserting that the University, its...more

Dorsey & Whitney LLP

Supreme Court Give Plaintiffs a Narrow Win in 401(k) Fee Case

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Since the first round of cases were filed in 2006, plaintiffs’ counsel have raised hundreds of lawsuits challenging the prudence of fees and investments in 401(k) plans. One of the critical issues in those cases is what needs...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

McAfee & Taft

Unanimous Supreme Court holds retirement plan fiduciaries must monitor and remove all imprudent investment options

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Last week, on January 24, the U.S. Supreme Court issued its much-anticipated decision in Hughes v. Northwestern University, unanimously holding that retirement plan fiduciaries have a duty to continuously monitor retirement...more

Holland & Hart - The Benefits Dial

The Tide is High…Keep Holding On For More Retirement Plan Fee Litigation

The U.S. Supreme Court’s ruling this week in Hughes v. Northwestern University will do nothing to stem the rising tide of retirement plan fee litigation. But the ruling doesn’t mean fiduciary breach claims are more likely to...more

Kohrman Jackson & Krantz LLP

Supreme Court Issues Opinion In Hughes V. Northwestern University ERISA Case

On Monday, Jan. 24, 2022, the U.S. Supreme Court issued an important decision dealing with defined contribution retirement plans. These plans, which include 401(k) plans, provide an array of investment choices from which...more

Bradley Arant Boult Cummings LLP

What Does the Supreme Court’s Newest Fee Decision Mean for Retirement Plans?

On January 24, the U.S. Supreme Court issued a short unanimous opinion in Hughes v. Northwestern University. The importance of the opinion will likely be modest. At a basic level, all the Supreme Court did was reinstate a...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

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

Troutman Pepper

U.S. Supreme Court Decision Potentially Opens Floodgates for ERISA Breach of Fiduciary Duty Claims

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On January 24, the U.S. Supreme Court, in a unanimous opinion, ruled in Hughes v. Northwestern University that offering an array of allegedly prudent investment choices within the plan does not serve as a categorial defense...more

Snell & Wilmer

More is Not Always Better: Supreme Court Reexamines Fiduciary Duty of Prudence

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In what may be one of the shortest decisions this term, the Supreme Court handed down a unanimous six-page opinion on January 24, 2022 in Hughes v. Northwestern University. Vacating the Seventh Circuit’s decision, the Court...more

Groom Law Group, Chartered

The Supreme Court’s Northwestern Decision – A Win for Plaintiffs but a Possible Turn In the Tide?

On January 24, 2022, in a unanimous decision, the Supreme Court in Hughes v. Northwestern reinstated the long-running case against Northwestern University by sending the case back to the lower courts for further review. ...more

Ballard Spahr LLP

U.S. Supreme Court Weighs in on ERISA Breach of Fiduciary Duty Claim in Hughes v. Northwestern University

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Summary - The U.S. Supreme Court this week unanimously decided an ERISA fiduciary duty case, Hughes v. Northwestern University, which will impact dozens of similar cases currently pending against fiduciaries of section...more

Kilpatrick

Supreme Court Affirms Fiduciaries’ Responsibility for Each Investment Option

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The Supreme Court today issued a succinct, unanimous opinion in Hughes v. Northwestern University. The Court affirmed that fiduciaries of retirement plans (including university 403(b) plans like Northwestern’s as well as the...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Hughes v. Northwestern University

On January 24, 2022, the U.S. Supreme Court decided Hughes v. Northwestern University, No. 1401, holding that an ERISA fiduciary that offers some prudent investment options in a retirement plan is not thereby categorically...more

King & Spalding

Supreme Court Poised To Decide What Allegations Make The Grade In University Fee Case, With Broader Implications For ERISA...

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Last month, the U.S. Supreme Court heard argument in an ERISA case that could have sweeping ramifications for retirement plan fiduciaries. The case—Hughes v. Northwestern University—tees up a threshold question that has...more

Alston & Bird

Supreme Court Offers Mixed Guidance on Future of Lawsuits Challenging Investments and Fees in 401(k) and 403(b) Plans

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Oral argument before the U.S. Supreme Court in Hughes v. Northwestern University will have broader implications for both 401(k) and 403(b) plans. It isn’t always easy to read the tea leaves, but our ERISA Litigation Group...more

Proskauer Rose LLP

ERISA Newsletter - Fourth Quarter 2019

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Editor's Overview - Happy New Year. We wrap-up 2019 with an article that reflects on significant developments in ERISA litigation during 2019, and takes a look at what's on the horizon for 2020. The courts (at all levels)...more

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