Supreme Court Decision Allows ERISA Remedy for Individual Damages Claims for Breach of Fiduciary Duty
Date: 03/04/08
On February 20, 2008, the U.S. Supreme Court unanimously decided LaRue v. DeWolff, Boberg & Associates, Inc. The Supreme Court held that the Employee Retirement Income Security Act of 1974 ("ERISA") permits a participant in a defined contribution plan to sue a fiduciary under § 502(a)(2) of ERISA for investment losses to the participant's individual account caused by a breach of fiduciary duty.30408 - U S Supreme Court Permits Individual Fiduciary Breach Claims under ERISA.pdf (pdf | 47.16 KB )