Employer groups plan to urge US Supreme Court to hear case limiting damages in 401(k) lawsuits
Key points
- Employer trade groups advised the US Supreme Court in an amicus brief to hear the case
- The proposal would curb damages workers can recover in 401(k) suits
- The groups say employees alleging mismanagement shouldn't recover more than their individual account entitlement
Trade groups representing employers with workplace benefit offerings advised the US Supreme Court in an amicus brief to hear a case that would let it curb damages workers can recover in 401(k) suits. They said employees alleging mismanagement shouldn't recover more than they'd be entitled to in their individual accounts. For reference only; this is not legal advice.
What employers should do
- Monitor whether the Supreme Court accepts the case and assess impact on 401(k) plan administration compliance
Policy details
- Jurisdiction
- US
- Status
- Proposed rule
- Effective date
- —
- Employers covered
- Employers offering 401(k) plans
- Official source
- Official source pending
Original report: Bloomberg Law News ↗Edited with AI assistance. Facts are based on official sources and original reports. For information only; not legal, immigration or insurance advice.