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Fourth Circuit Affirms Aon Hewitt Did Not Breach ERISA Fiduciary Duties in Cross-Selling Services and Managing Lowe's 401(k) Plan
Roberts Disability Law 
July 20, 2023 "[T]he court found that Aon was not acting as an ERISA fiduciary when it engaged in cross-selling of additional services at the time that it was recommending that Lowe's restructure its retirement plan.... Second, the court found that Aon did not violate its ERISA fiduciary duty of loyalty by recommending that the plan adopt a streamlined investment menu which happened to play to its interest." [Reetz v. Aon Hewitt Investment Consulting Inc., No. 21-2267 (4th Cir., July 17, 2023)] |
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