The United States Supreme Court has agreed to hear Tibble v. Edison International, a case in which the plaintiffs contend their ERISA plan fiduciaries breached their duty of prudence by offering higher-cost retail-class mutual funds to 401(k) plan participants, even though identical lower-cost institutional-class mutual funds were available.
Jamie Fleckner, a partner in and chair of Goodwin Procters ERISA litigation practice in Boston, discusses the origins of the case and its implications for 401(k) plan sponsors.
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