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Supreme Court Decision Will Lead to Intense Scrutiny of ESOP Fiduciaries (PDF)
Blank Rome LLP Link to more items from this source
June 26, 2014

"ERISA does not guarantee a result; it guarantees only a prudent process. Fiduciaries of traditional ESOPs find themselves in a position that their 401(k) brethren have been in for a long time: meeting regularly; hiring an investment advisor; preparing a good record of looking at alternatives; and reviewing a participant's total employer-provided investment portfolio with an eye toward justifying the ESOP as part of a comprehensive program of employer-provided retirement income." [Fifth Third Bancorp v. Dudenhoeffer, No. 12-751 (U.S. June 25, 2014)]

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