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Not Much of a Dispute in ERISA Case About Duty to Monitor Investments
SCOTUSblog Link to more items from this source
Feb. 17, 2015

"The big issue in the case, on which the Justices granted review, is whether the fiduciaries of an ERISA plan have a continuing duty of prudence, which requires periodic monitoring of investments, or whether the duty is instead measured at a single point in time -- when the investment is made. Now that the briefs are in, both sides (and the federal government for good measure) agree that the duty is continuous.... As it stands now, the narrow dispute between the parties is whether the ongoing duty of prudence requires a periodic full review of the propriety of all assets in the portfolio (the position of the employees), or whether a more superficial periodic review is adequate until some 'change' in the character of an asset occurs that warrants a 'full due diligence process' (the position of the plan)." [Tibble v. Edison International, No. 13-550 (9th Cir. Aug. 1, 2013; cert. pet. granted Oct. 2, 2014)]

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