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Member, Beacon International Group, Ltd.
In a closely watched case remanded by the U.S. Supreme Court, recent rulings by the 7th U.S. Circuit Court of Appeals in Hughes vs. Northwestern likely will keep the door open to lawsuits over retirement plan fiduciary decisions, Plansponsor reports. With the Supreme Court guidance, a three-judge panel of the 7th Circuit decided two of three claims against the plan sponsor should go back to a district court for further consideration. The upshot, according to legal analysis, is that the new ruling will likely open the door to more litigation attempts regarding fiduciary decisions related to retirement plans.