Fiduciaries must treat plan management as an active compliance obligation to avoid legal exposure, says a Hall Benefits Law practitioner.
On April 17, 2025, the US Supreme Court issued a unanimous per curiam opinion in Cunningham v. Cornell University . Docket No.: 1:16-cv-06525 (S.D.N.Y. 2019), 86 F.4th 961 (2d Cir. 2023), rev’d and remanded, Docket No. 23- 1007 (U.S. Apr. 17, 2025). It revived a long-running fiduciary breach claim brought by participants in the university’s 403(b) retirement plan. The Court’s decision, though brief, delivered a clear procedural message: when plaintiffs present evidence raising genuine disputes of material fact, courts must not dispose of fiduciary breach claims at the summary judgment stage.
Originally Published by Tax Management Memorandum by Bloomberg Industry Group, Inc. - May 19, 2025.
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