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Sixth Circuit: 401(k) Plan Fiduciaries Did Not Breach Duties by Offering Actively Managed Mutual Funds
Roberts Disability Law 
June 24, 2022 "The court explained that merely offering actively managed funds in its mix of investment options is not by itself an imprudent act.... [The plaintiff] pointed to another investment that performed better in a five-year snapshot of the lifespan of the fund but this does not suffice to plead an imprudent decision. If so, it would mean that every actively managed fund with below-average results over the most recent five-year period would create an ERISA violation." [Smith v. CommonSpirit Health, No. 22-5964 (6th Cir. Jun. 21, 2022)] MORE >> |
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