Supreme Court Decision Allows ERISA Remedy for Individual Damages Claims for Breach of Fiduciary Duty
March 4, 2008
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