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Supreme Court Struggles to Apply 'Twiqbal' in Retirement Plan Fee Cases
Jackson Lewis P.C.Link to more items from this source
Dec. 7, 2021

"Although a key issue in Plaintiffs' amended complaint was the use of a revenue sharing, rather than a per-participant fee, there was little to no inquiry or recognition by the Justices on the impact of revenue sharing in offsetting fees, as a reason for selecting a more expensive share class as an investment option. Equally surprising was Justice Roberts' line of questioning on the scope of ERISA's fiduciary duty of prudence ... There appeared to be more coalescence on the recordkeeping claim." [Hughes v. Northwestern Univ., No. 18-2569 (7th Cir. Mar. 25, 2020; oral arg. transcript Dec. 6, 2021)]

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