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Ninth Circuit Joins Circuit Splits in ERISA Section 404(c) Opinion and Defers to DOL Interpretation of Safe Harbor
Practical Law Company 
Mar. 24, 2013 "Edison did not violate its duty of prudence under ERISA by including 'retail' mutual funds, a short-term investment fund (STIF) akin to a money market (as opposed to a stable value fund) and a unitized fund for employees' investment in the company's stock in the plan. However, it was imprudent in deciding to include retail-class shares of three specific mutual funds in the plan because it failed to investigate the possibility of institutional-share class alternatives." MORE >> |
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