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All rise! 401(k) legal battles set to surge in second half of year
A couple of major court rulings may lead to more litigation related to defined-contribution retirement plans.
Georgia court refuses to dismiss 401(k) suit, citing SCOTUS Northwestern decision
The case filed against the Columbus Regional Health System cited breaches similar to those alleged in the Northwestern case, such as offering retail share classes of mutual funds instead of lower-cost institutional shares.
SCOTUS vacates Northwestern rulings
In a decision that's almost certainly unwelcome news for retirement plan sponsors, the Supreme Court said lower courts paid too much attention to whether the university's inclusion of some low-cost options in its plans is sufficient to show fiduciaries abided by their duties.
Schlichter suit against Northwestern goes to Supreme Court
The defendants succeeded in getting the case dismissed in 2018 at the district court level, a decision that was upheld by an appellate court in March 2020.
