Supreme Court Decision Changes Standards for Employer Stock in Retirement Plans
The Supreme Court recently decided a case that eliminates the “presumption of prudence” for plan fiduciaries relating to their investment in employer stock in retirement plans. In Fifth Third Bancorp v. Dudenhoeffer, the Supreme Court determined that fiduciaries of an employee stock ownership plan (“ESOP”) are not entitled to a presumption of prudence. Rather, the […]
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Tagged: Dudenhoeffer, employee stock ownership plan, employer stock, ESOP, fiduciary duty, presumption of prudence, Supreme Court
Anne M. Meyer
Partner
Tom Hoecker
Of Counsel