High Court’s Ruling on Tibble v. Edison International, Leaves Questions Surrounding Key Issue

For Immediate Release

Washington, DC – The following statement should be attributed to Annette Guarisco Fildes, President and CEO of The ERISA Industry Committee (ERIC):

“The ruling today by the U.S. Supreme Court in Tibble v. Edison International leaves key issue undecided. The Court’s remand to a lower court means plan investment fiduciaries will need to wait for further developments in this case to learn the scope of their duty to monitor investment options absent significant changes in circumstances.

 In an amicus brief filed earlier this year ERIC urged the Court to uphold earlier court rulings concerning the Employee Retirement Income Security Act’s (ERISA) six-year statute of limitations provision, and reject a challenge concerning the prudence of three investment options that were selected for inclusion in a plan sponsor’s 401(k) plan more than six years prior to the alleged fiduciary breach claims. Following today’s ruling investment fiduciaries should continue to monitor plan investments to the extent that they believe appropriate to satisfy their fiduciary duties under ERISA.”

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All media inquiries to The ERISA Industry Committee should be directed to:

Kelly Broadway, 202.627.1918, kbroadway@eric.org

About the ERISA Industry Committee
ERIC is the only national association that advocates exclusively for large employer plan sponsors on health, retirement, compensation, and paid leave public policies at the federal, state, and local levels. With member companies that are leaders in every sector of the economy, ERIC is promoting uniformity and flexibility for nationwide benefit plans.