Supreme Court to Decide on Benchmark Requirement in ERISA Retirement Plan Case
The Supreme Court is set to hear a case involving the Employee Retirement Income Security Act (ERISA) that could have significant implications for retirement plan litigation. The case, Anderson v. Intel Corporation Investment Policy Committee, questions whether plaintiffs must identify a 'meaningful benchmark' when alleging that fiduciaries imprudently selected underperforming investments. The 9th Circuit Court ruled that a sound basis for comparison is necessary, aligning with several other circuits. However, the 6th Circuit disagrees, creating a split that the Supreme Court will address. The outcome could affect how retirement plan lawsuits are evaluated and the standards fiduciaries must meet. 
