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Williams Mullen: Fourth Circuit Rules That Retirement Plan Trustees’ Failures Must Have Causal Link to Plan Losses In Order to Hold Trustees Liable: Plasterers’ Local Union No 96 Pension Plan v. Pepper, No. 10-1364 (4th Cir., December 1, 2011)

BY: MARK S. THOMAS & ROBERT W. SHAW The U. S. Court of Appeals for the Fourth Circuit has ruled that retirement plan trustees cannot be held liable for failures to investigate the prudence of plan investments or to diversify those investments, unless there is a proven causal link between such...

Williams Mullen: 11th Circuit Rules Home Depot Plan Fiduciaries Did Not Breach Their Duties Related To The Plan's Company Stock Fund

B y M ark S. Thomas and Robert W. Shaw In Lanfear v. Home Depot, Inc. , No. 10-13002 (11th Cir. May 8, 2012) [ enhanced version available to lexis.com subscribers ], the U.S. Court of Appeals for the Eleventh Circuit joined five other federal circuit courts in adopting a presumption that, in the absence...

Supreme Court Says Trust Law Informs Limitations Question in Imprudent Retention Case

WASHINGTON, D.C. — (Mealey’s) The U.S. Supreme Court ruled in a unanimous opinion today that the Ninth Circuit U.S. Court of Appeals erred in holding that Employee Retirement Income Security Act Section 413(1) bars breach of fiduciary duty claims based on the fiduciaries’ initial selection...

U.S. Supreme Court Makes It Easier for Plan Sponsors to Challenge the Prudence of 401(k) Investment Options

On May 18, 2015, the U.S. Supreme Court handed down a unanimous decision that effectively expands the time period during which a 401(k) plan participant may file suit for certain ERISA violations. In Tibble v. Edison International , the Court considered the Ninth Circuit Court of Appeal’s decision...