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Supreme Court Rejects Special Presumption of Prudence for ESOP Fiduciaries
Quarles & Brady LLP Link to more items from this source
June 30, 2014
"Some employers with stand-alone ESOPs or 401(k) plans with an ESOP component rely on independent fiduciaries to make certain decisions relating to investments in company stock. Depending on how the Sixth Circuit ultimately decides, employers may want to consider the option of an outside independent fiduciary who will evaluate the company stock, monitor its continued performance, and make recommendations to the plan's trustee or investment committee." [Fifth Third Bancorp v. Dudenhoeffer, No. 12-751 (U.S. June 25, 2014)]

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