"Rather than compare Northwestern's actions to those of a 'hypothetical prudent fiduciary,' ... plaintiffs criticize what may be a rational decision for a business to make when implementing an employee benefits program.... That plaintiffs prefer low-cost index funds to the Stock Account does not make its inclusion in the plans a fiduciary breach.... Plaintiffs also spill much ink in their amended complaint describing their clear preference for low-cost index funds. We understand their preference and acknowledge the industry may be trending in favor of these types of offerings.... Plaintiffs failed to allege, though, that Northwestern did not make their preferred offerings available to them. In fact, Northwestern did.... Taken as a whole, the amended complaint appears to reflect plaintiffs' own opinions on ERISA and the investment strategy they believe is appropriate for people without specialized knowledge in stocks or mutual funds." [Divane v. Northwestern Univ., No. 18-2569 (7th Cir. Mar. 25, 2020)]

MORE >>