News & Analysis as of

Tibble v Edison Int

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

Epstein Becker & Green

Addressing Excessive Fee Litigation Risk in the Wake of Hughes v. Northwestern

Epstein Becker & Green on

The Supreme Court’s January 24, 2022 decision in Hughes v. Northwestern University, has caused alarm in some corners, with panicked predictions of a proliferation of ERISA suits alleging that defined contribution plans...more

McGuireWoods LLP

U.S. Supreme Court Reinforces ERISA Fiduciary Duty to Monitor Investment Options

McGuireWoods LLP on

On Jan. 24, 2022, the U.S. Supreme Court vacated the U.S. Court of Appeals for the Seventh Circuit’s ruling in Hughes v. Northwestern University, and remanded the case for further consideration, bringing new life to current...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

Pietragallo Gordon Alfano Bosick & Raspanti,...

BEWARE Pension Plan Trustees: The United States Supreme Court has Heightened Your Responsibility

On Monday, January 24, 2022 the United States Supreme Court issued its much-anticipated opinion in the Hughes, et al. v. Northwestern University, et al. case. Before the Court was the issue of whether Northwestern University...more

Troutman Pepper

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

Troutman Pepper on

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

Snell & Wilmer on

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

Ballard Spahr LLP on

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

Verrill

Unanimous Supreme Court Overturns Court of Appeals in Northwestern University 403(b) Plans Excessive Fee Case

Verrill on

The United States Supreme Court has agreed with participants in two 403(b) plans sponsored by Northwestern University that their lawsuit, alleging that plan recordkeeping and investment fees were excessive, should not have...more

Proskauer - Employee Benefits & Executive...

The Supreme Court Declines to Establish Pleading Standard for Defined Contribution Plan Excessive Fee Litigation

To the disappointment of many in the ERISA community, the Supreme Court issued a six-page opinion on January 24th that declined to opine on most of the issues that were before the Court in Hughes v. Northwestern University,...more

Littler

Supreme Court Sends Case Involving ERISA Breach of Fiduciary Duty Pleading Standard Back to Seventh Circuit for Revised Analysis

Littler on

On Monday, January 24, 2022, the U.S. Supreme Court issued an opinion in a case of critical interest to employers offering 401(k) or other defined-contribution retirement plans.  In Hughes v. Northwestern University, Case No....more

Fisher Phillips

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

Fisher Phillips on

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

Dechert LLP

In Which Direction Does Hughes v. Northwestern Take the ERISA Analysis of 401(k)/403(b) Investment Menus?

Dechert LLP on

On January 24, 2022, the U.S. Supreme Court unanimously ruled in Hughes v. Northwestern University that establishing and offering a broad range of investment options for a participant-directed retirement plan does not ensure...more

Mintz - Employment, Labor & Benefits...

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

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Edison must pay in long running Tibble lawsuit

A federal court ruled that Edison International must pay more than $7.5 million to compensate plan participants for its decision to include high-fee retail share mutual funds in its 401(k) plan when identical institutional...more

Stinson - Benefits Notes Blog

Tibble and Class Action Plaintiffs Win Round Two versus Edison International and Its 401(k) Investment Committees

In past articles in this Blog I reported on decisions of the 9th Circuit Court of Appeals and ultimately the U.S. Supreme Court dealing with a class action for breach of fiduciary duty for selecting retail mutual funds in...more

McDermott Will & Emery

Employee Benefits Innovators Roundtable: Fiduciary Update and the DOL Fiduciary Rule

The US Department of Labor’s new fiduciary rule is aimed at financial advisors, including brokers, who provide retirement plan services. However, the new rule will impact compliance obligations and potentially, costs for plan...more

Stinson - Benefits Notes Blog

Inside Trustees for Small Minnesota 401(k) Plan Face Class Action Over Excessive Fees

A Minneapolis law firm recently filed a class action complaint against Lamettry’s Collision, Inc. and the Trustees of its 401(k) Plan, CFO Stephen Daniel and President Joan Lamettry for various breaches of fiduciary duty with...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - January 2016

Proskauer Rose LLP on

Editor's Overview - Happy New Year! Because 401(k) plans play an increasingly prominent role as an employee's principal retirement investment vehicle, fiduciaries overseeing those plans face increased pressure to see...more

Adler Pollock & Sheehan P.C.

U.S. Supreme Court Rules That Employers Must Periodically Review Investment Options In 401(k) Plans And Remove Imprudent Funds

An employer has fiduciary duties with respect to the 401(k) plan it provides its employees. Those duties include the obligation to choose prudent investment options and to consider the fees associated with service providers...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

Laner Muchin, Ltd.

Supreme Court Emphasizes Requirements About Selecting and Monitoring Plan Investments

Laner Muchin, Ltd. on

Plan administrators, investment committees and any other plan fiduciary responsible for selectingthe investment options of an employee benefit plan subject to ERISA should take note of the recent U.S. Supreme Court ruling in...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

Fisher Phillips

One-Time Anomaly Or Potential Turning Of The Tides? A Review Of The Supreme Court's 2014-2015 Term

Fisher Phillips on

In a marked departure from the overwhelming success employers experienced before the Supreme Court in recent years, the less successful recently wrapped 2014-2015 term could be an indication that the judicial tides may be...more

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Privacy Officer
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Sausalito, CA 94965

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