(Bloomberg) — The U.S. Supreme Court said 401(k) plans have a duty to monitor the investment options they offer, in a ruling that may help investors press lawsuits over underperforming funds and excessive fees.
The ruling was a limited one. The court didnt decide whether Edison should have jettisoned the retail class funds or the extent to which it needed to review those investments. The justices sent the case back to a lower court to consider those questions.