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ERISA Fiduciaries Must Continuously Monitor 401(k) Investment Choices
Fisher & Phillips LLPLink to more items from this source
May 18, 2015

"[T]he Supreme Court held that ERISA's fiduciary duty is derived from the common law of trusts, which creates a continuing duty -- separate and apart from the duty to exercise prudence in selecting investments in the first place -- to monitor funds and remove imprudent investments.... With tougher Labor Department scrutiny on fees paid by 401(k) plan participants, it is more important than ever that employers maintain an active and sophisticated benefits committee to oversee the selection and monitoring of investments for their plans." [Tibble v. Edison Int'l, No. 13-550 (U.S. May 18, 2015)]

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