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Tibble Supreme Court Argument: Fiduciaries Must Monitor Investments
McGuireWoods Feb. 26, 2015 "During the argument, the justices, the parties to the suit, and the [DOL] all seemed to agree on the following points: [1] There is no 'continuing violation' as to a fiduciary decision to offer an imprudent investment as an investment option. [2] The ERISA statute of limitations begins to run from the date of the alleged fiduciary breach in making that decision. [3] There is an ongoing fiduciary duty to monitor investment options prudently. [4] The process of 'monitoring' investments is less intensive and rigorous than the process of initial selection of investment options." [Tibble v. Edison International, No. 13-550 (9th Cir. Aug. 1, 2013; cert pet. granted Oct. 2, 2014, argued Feb. 24, 2015)] |
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