Employee Benefits Blog

Tenth Circuit Allows ERISA Arbitration, So Long As There are No Limitations in Remedies

On February 9, 2023, the U.S. Court of Appeals for the Tenth Circuit refused to enforce an arbitration clause contained in an employee stock ownership plan (“ESOP”) document. In a 41-page opinion, the Court held that the ESOP Plan improperly limited the ESOP beneficiaries’ rights and remedies granted under the Employee Retirement Income Securities Act […]

| 4 min read
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Second Time Around: Seventh Circuit Given First Opportunity to Analyze the Duty of Prudence Post Hughes

On August 29, 2022, the U.S. Court of Appeals for the Seventh Circuit affirmed the dismissal of a 401(k) plan participant’s claims that plan fiduciaries mismanaged the $1.1 billion 401(k) plan and charged participants excessive fees.  This was the first time the Seventh Circuit interpreted the Supreme Court’s recent opinion in Hughes v. Northwestern University, […]

| 3 min read
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More is Not Always Better: Supreme Court Reexamines Fiduciary Duty of Prudence

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 further defined an ERISA plan fiduciary’s duty of prudence with respect to its control and management of retirement plan […]

| 3 min read | Tagged: , , , , , , ,
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