News & Analysis as of

Fiduciary Duty Statute of Limitations Reversal

Winstead PC

Court Reversed Summary Judgment And Held That There Was A Fact Question On Whether A Trust Was Void Due To Forgery Or Fraud

Winstead PC on

In In re Est. of Prieto, the contestant’s mother executed a will in 2008 leaving her property to a trust. No. 04-22-00038-CV, 2024 Tex. App. LEXIS 6336 (Tex. App.—San Antonio August 28, 2024, no pet.)....more

Pullman & Comley - Labor, Employment and...

Supreme Court’s Sulyma Decision Creates Proof of Actual Knowledge Issue for Plan Fiduciaries

Since its adoption the Employee Retirement Income Securities Act of 1974, as amended (“ERISA”), has required employee benefit plan sponsors to make disclosures regarding plan terms and plan expenses.  The most well-known of...more

Hinshaw & Culbertson LLP

The LHD/ERISA Advisor: U.S. Supreme Court Issues Ruling on 'Actual Knowledge' Required to Trigger ERISA's Limitations Period

On February 26, 2020, the Supreme Court issued its decision in Intel Corp. Inv. Policy Comm. v. Sulyma, __. U.S. __, 140 S. Ct. 768 (2020). The Court unanimously held that Christopher Sulyma ("Sulyma") did not necessarily...more

Robinson+Cole ERISA Claim Defense Blog

Supreme Court’s Sulyma Decision May Complicate Plan Administrators’ Consideration of the DOL’s New Proposed Electronic Safe Harbor...

As discussed in an earlier post on this blog, in Intel Corporation Investment Policy Committee et al. v. Sulyma, No. 18-1116 (Feb. 26, 2020), the U.S. Supreme Court addressed the statute of limitations for breach of fiduciary...more

Faegre Drinker Biddle & Reath LLP

Actual Knowledge Means Actual Knowledge: U.S. Supreme Court Resolves Circuit Split Over ERISA’s Statute of Limitations for...

In its February 26, 2020, unanimous decision in Intel Corporation Investment Policy Committee v. Sulyma, the United States Supreme Court resolved a circuit split regarding what constitutes “actual knowledge” for purposes of...more

Parker Poe Adams & Bernstein LLP

U.S. Supreme Court Says Mere Receipt of Plan Disclosures Does Not Provide 'Actual Knowledge' Under ERISA

Last Wednesday, a unanimous U.S. Supreme Court concluded that receipt of participant disclosures and notices does not constitute “actual knowledge” of fees, investment options, and other plan features. Actual knowledge is the...more

Morgan Lewis - ML Benefits

Supreme Court’s Sulyma Decision Lays Out Roadmap for Employers and Fiduciaries

The US Supreme Court recently decided a closely watched ERISA case against employers and fiduciaries. Under Section 413 of ERISA, the statute of limitations for a fiduciary breach claim is shortened from six years to three...more

Faegre Drinker Biddle & Reath LLP

Actual Knowledge Means Actual Knowledge: The U.S. Supreme Court Resolves Circuit Split over ERISA’s Statute of Limitations for...

In its February 26, 2020, unanimous decision in Intel Corporation Investment Policy Committee v. Sulyma, the United States Supreme Court resolved a circuit split regarding what constitutes “actual knowledge” for purposes of...more

Herbert Smith Freehills Kramer

Supreme Court Rejects Shorter Statute of Limitations in ERISA Case

The Supreme Court in Intel Corporation Investment Policy Committee et al. v. Sulyma, case No. 18–1116, significantly narrowed the circumstances in which a three-year statute of limitations would apply to a claim for breach of...more

Eversheds Sutherland (US) LLP

Supreme Court holds that longer ERISA statute of limitations applies in Intel case

The U.S. Supreme Court ruled on February 26, 2020 that ERISA plaintiffs do not gain “actual knowledge” of fiduciary misconduct merely by receiving financial disclosures from the plan. The unanimous opinion in Intel Corp....more

Seyfarth Shaw LLP

Supreme Court’s Sulyma Ruling Toughens ERISA’s “Actual Knowledge” Standard & Makes Dismissal of Fiduciary Breach Actions More...

Seyfarth Shaw LLP on

Seyfarth Synopsis: On February 26, 2020, the Supreme Court unanimously affirmed the Ninth Circuit’s ruling in Intel Corp. Investment Policy Committee, et al. v. Sulyma. 589 U.S. ___ (2020), holding that plan participants must...more

A&O Shearman

U.S. Supreme Court Holds Plaintiffs Need Actual Knowledge Of Breach Of Fiduciary Duty To Be Held To Three-Year Statute Of...

A&O Shearman on

On February 26, 2020, the United States Supreme Court, in a unanimous decision by Justice Samuel Alito, held that for purposes of assessing the appropriate statute of limitations for a breach of fiduciary duty claim under the...more

Brownstein Hyatt Farber Schreck

“Actual Knowledge” Required to Apply ERISA’S Three-Year Statute of Limitations to Fiduciary Breach Claims

Yesterday, the U.S. Supreme Court issued its decision in Intel Corp. Investment Policy Committee et al. v. Sulyma (case number 18-1116). The decision requires a participant to have “actual knowledge” in order to apply ERISA’s...more

Miller Canfield

Supreme Court Clarifies "Actual Knowledge" Requirement for Shortened ERISA Statute of Limitations

Miller Canfield on

Employers and plan fiduciaries should take careful note of a recent ruling issued by the United States Supreme Court which may prompt increased Employee Retirement Income Security Act ("ERISA") litigation and otherwise alter...more

Fisher Phillips

SCOTUS ERISA Ruling May Open Floodgates For Increased Lawsuits

Fisher Phillips on

In a unanimous decision, the Supreme Court just declined to limit the timeframe in which disgruntled employees could bring suit challenging the investment decisions made by plan fiduciaries. While the Employee Retirement...more

Jackson Lewis P.C.

The Supreme Court Defines Actual Knowledge

Jackson Lewis P.C. on

In a closely watched decision, Intel Corporation Investment Policy Committee v. Sulyma, Slip Op. No. 18-1116 (U.S. S. Ct., Feb. 26, 2020), construing ERISA’s three-year statute of limitations, see ERISA § 413(2), 29 U.S.C. §...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Intel Corporation Investment Policy Committee v. Sulyma

On February 26, 2020, the U.S. Supreme Court decided Intel Corporation Investment Policy Committee v. Sulyma, holding that, for purposes of ERISA’s three-year statute of limitations, a plan beneficiary does not have “actual...more

Kilpatrick

Supreme Court: Disclosing Information Does Not Result in "Actual Knowledge

Kilpatrick on

In a unanimous decision, the Supreme Court has found that disclosing information regarding benefit plans to participants does not necessarily shorten the statute of limitations for filing a fiduciary breach claim under ERISA....more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - June 2018

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between February 2018 and May 2018. ...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

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