Employee Benefits Blog

With a New Administration, Will the Department of Labor’s Fiduciary Rule Once Again be Revised?

The Department of Labor’s (the “DOL”) attempts to regulate the conduct of fiduciaries under ERISA and the Code has been mired in controversy. In 2010, the Obama administration’s DOL proposed a fiduciary regulation that was met with so much criticism that it was subsequently withdrawn in 2011. In 2015, the DOL re-proposed a fiduciary regulation […]

November 20, 2020 | 5 min read | Tagged: DOL, ERISA, fiduciary duty, financial institutions, iras, plan investments

Anne M. Meyer Partner

Supreme Court Confirms that Plan Fiduciaries have a “Continuing Duty of Some Kind” to Monitor Investments

In Tibble v. Edison International, Justice Breyer held, for a unanimous Supreme Court, that “a fiduciary normally has a continuing duty of some kind to monitor investments and remove imprudent ones.” In so ruling, the Court reversed a decision from the Ninth Circuit, which held, in essence, that plan fiduciaries could not be held responsible […]

May 19, 2015 | 3 min read | Tagged: 401(k) plan, duty to monitor, fiduciary duty, plan investments, Supreme Court, Tibble v. Edison International

Tom Hoecker Of Counsel