In a unanimous decision in the Intel Corp. Investment Policy Committee v. Sulyma case, the Supreme Court refused to limit the timeframe in which participants could bring a lawsuit challenging the investment decisions made by plan fiduciaries. While ERISA provides only a three-year statute of limitations when participants have \u201cactual knowledge\u201d of an alleged breach or violation, the Court opined that this shorter period isn\u2019t applicable when the participant in question didn\u2019t read or didn\u2019t recall having read all the relevant information about the investments provided by the plan. In those situations, the Court ruled that a longer six-year statute of limitations applies. This decision opens employers and retirement plan fiduciaries up to an increased risk of litigation while increasing the standard for evaluating breach claims and class action certifications.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" In a unanimous decision in the Intel Corp. Investment Policy Committee v. Sulyma case, the Supreme Court refused to limit the timeframe in which participants could bring a lawsuit challenging the investment decisions made by plan fiduciaries. While ERISA provides … Continue reading