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Ninth Circuit Decides Selection of Retail Mutual Funds Was a Breach of Fiduciary Duty
Leonard, Street and Deinard Link to more items from this source
Apr. 1, 2013

"The Tibble case reminds plan fiduciaries that following a prudent process is the most important defense against future claims for fiduciary breach. It was not what the Tibble Plan Committee did (include selected retail mutual funds), that got it in trouble. It was the fact that they had not investigated or considered available institutional funds which had annual investment fees 40 basis points less than the selected funds in their review process."

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