17.11.2022 11.59 CST
A round of court cases following Supreme Court’s Hughes decision places a greater burden on plaintiffs bringing fiduciary litigation.
Several recent decisions handed down by federal appellate courts offer some good news for plan fiduciaries. In each of these cases the courts affirmed dismissals of fiduciary litigation, concluding that the facts alleged were just not enough to support a claim. The dismissals were based on the courts’ assessment that even if the general facts alleged were true (e.g., that other plans paid less in recordkeeping or management fees or that other funds performed better) –those facts would not show that the actions taken by the fiduciaries for these specific plans were not prudent.
01.02.2022 03.04 CST
Fiduciaries are responsible to exercise prudence in all decisions—not just some.
The Supreme Court’s decision leaves unanswered many difficult questions facing fiduciaries.