"[T[he divergence between a finding of disloyalty and one of prudence strikes this writer as unusual ... Granted the two are often discussed separately, but it seems that in the vast majority (if not all) such cases, the two march hand in hand. The implications here are that a fiduciary could do what fiduciaries broadly are expected to do in terms of process, and still ignore their obligations to participants. To some -- including this writer -- that may seem a distinction without a real difference." [Spence v. Am. Airlines, Inc., No. 23-0552 (N.D. Tex. Jan. 10, 2025)]  MORE >>