Update and Discussion on Legal and Practical Issues
A Supreme Court decision in April made it easier for plaintiffs to keep ERISA prohibited transaction claims in play longer, and just days later a rare ERISA trial resulted in a huge win for a class of 401(k) plan...more
Two recent class action lawsuits charging a breach of fiduciary duty under the Employee Retirement Income Security Act (ERISA) have increased the stakes and raised important considerations regarding a plan fiduciary’s duty of...more
We are pleased to present our annual End of Year Plan Sponsor “To Do” Lists. This year, we present our “To Do” Lists in four separate SW Benefits Updates. This Part 1 covers year-end health and welfare plan issues. Parts 2,...more
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
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
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
On Jan. 24, 2022, the U.S. Supreme Court reached a unanimous decision, overturning the Seventh Circuit’s dismissal of participants’ claims that fiduciaries breached their duty of prudence – sending the case back to the...more
Last week, the Supreme Court issued its anticipated ruling in the ERISA fiduciary-breach class action Hughes v. Northwestern. In its unanimous decision, the Court vacated the Seventh Circuit’s dismissal of the case and sent...more
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
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
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
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
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
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
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
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
In a recent 5–4 decision, the U.S. Supreme Court shut the door on defined-benefit plan participants’ standing to sue under the Employee Retirement Income Security Act of 1974 (ERISA)....more
The U.S. Supreme Court (in Thole v. U.S. Bank N.A., available here) recently held that participants in a defined benefit pension plan who have been paid all their monthly pension benefits to date lack standing to sue for...more
In a recent 5-4 decision, the Supreme Court, in Thole v. U.S. Bank N.A., 590 U.S. __ (2020), held that participants in defined benefit pension plans lack standing to sue plan fiduciaries for allegedly imprudent plan...more
In Thole v. U.S. Bank, a 5-4 Supreme Court decision issued on June 1, the Court held that retired participants in a defined benefit pension plan lack constitutional standing to sue the plan fiduciaries for alleged breach of...more
The United States Supreme Court recently reviewed the federal constitutional standing requirements for members of a private defined-benefit pension plan who alleged that the plan trustees violated their fiduciary duties. ...more
On June 1, 2020, the United States Supreme Court, in an opinion by Justice Kavanaugh and joined by Chief Justice Roberts and Justices Alito and Gorsuch, held that plaintiffs—participants of a defined-benefit pension...more
In Thole v. U.S. Bank, N.A., the U.S. Supreme Court affirmed, in a 5-4 decision, the U.S. Court of Appeals for the Eighth Circuit's judgment that defined benefit plan participants lack standing to pursue claims of fiduciary...more
In Thole v. U.S. Bank, the Supreme Court held that defined benefit plan participants who are receiving their full pension benefit lack constitutional standing to bring a lawsuit alleging that the plan fiduciaries breached...more
Seyfarth Synopsis: The Supreme Court dismissed, prior to any discovery, claims of ERISA fiduciary breach because the plan participant-plaintiffs failed to show that the alleged breaches caused them concrete injury. ...more