Letter from US: Upcoming court ruling could create complications for DC plan sponsors
By the first half of this year, the United States Supreme Court is expected to issue a decision that could affect the defined-contribution (DC) industry. The case is Hughes vs Northwestern University, one of about 150 similar class-action lawsuits filed nationally in the past few years, alleging that plan fiduciaries breached their duty of prudence under ERISA, the Employee Retirement Income Security Act of 1974.
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