Petition of the day
on Sep 4, 2014 at 10:10 pm
The petition of the day is:
13-550
Issue: (1) Notwithstanding the ongoing nature of ERISA’s fiduciary duties, whether the statute of limitations under 29 U.S.C. §1113(1) immunizes 401(k) plan fiduciaries for retaining imprudent investments that continue to cause the plan losses if the funds were first included in the plan more than six years ago; and (2) whether Firestone Tire & Rubber Co. v. Bruch deference applies to fiduciary breach actions under 29 U.S.C. §1132(a)(2), where the fiduciary allegedly violated the terms of the governing plan document in a manner that favors the financial interests of the plan sponsor at the expense of plan participants. CVSG: 08/19/2014.
