The U.S. Supreme Court decision to hear arguments over Fifth Third Bancorp v. Duddenhoeffer a case that questions whether its prudent for companies to offer employee stock ownership within 401(k) investment schemes will be front and center for retirement plan sponsors this spring.
In April, the Supreme Court will hear arguments over the case, which includes Cincinnati, Ohio-based Fifth Third Bancorp, a financial services company with over $130 billion in assets, and the implications of including its Fifth Third Stock Fund as an investment option in its company sponsored plan. Justices will likely determine whether this was prudent under the Employee Retirement Income Security Act.
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