Three Strikes and You're in - Supreme Court To Hear Three ERISA Cases in Upcoming Term

“The upcoming term of the U.S. Supreme Court is shaping up to be a busy one with respect to cases arising under the Employee Retirement Income Security Act of 1974 (“ERISA”). There have been other terms with multiple ERISA cases – for example the 2015 term had at least three1 – and it looks like the upcoming term will again be an extremely eventful one for ERISA in the Court. In Thole v. U.S. Bank, the Court will consider whether constitutional or statutory standing requirements prevent a participant in a defined benefit plan from bringing a claim for breach of fiduciary duty where the plan is overfunded; in Intel Corporation Investment Policy Committee v. Sulyma, the Court will address whether constructive knowledge of a breach or other violation of ERISA is sufficient to trigger the statute of limitations applicable to a claim relating to plan investments, and the degree to which whether the specificity of the knowledge is relevant; and, in Retirement Plans Committee of IBM v. Jander, the Court will yet again revisit the applicable standard for pleading a claim of a breach of the duty of prudence where a retirement plan is invested in employer stock.” Continue reading.

Source: Dechert LLP