ERISA Fiduciary Duty Supreme Court Case (Anderson v. Intel)
The Supreme Court has agreed to hear *Anderson v. Intel*, a case that will examine the pleading standards for ERISA fiduciary duty claims, specifically addressing the 'meaningful benchmark' requirement when claims are based on fund underperformance. The case originated from a lawsuit filed by former Intel employees alleging that Intel breached its fiduciary duties by including alternative investments in its retirement plans.
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Track this story2026
4 updates
2026
4 updatesThe Department of Labor (DOL) has reversed its previous stance, now supporting efforts to curb ERISA litigation, a notable shift in the context of the Supreme Court case.
via winston.com
Department of Labor (DOL) guidance regarding 401(k) alternatives is expected imminently, a development related to the broader context of the Supreme Court case.
via ropesgray.com
The lawsuit against Intel's fiduciaries specifically alleges a breach of ERISA duty of prudence by investing plan assets in custom target-date funds.
via ropesgray.com
The U.S. Department of Labor (DOL) submitted proposed regulations on "Fiduciary Duties in Selecting Designated Investment Alternatives" on January 13, 2026. This development coincides with the Supreme Court's decision to hear *Anderson v. Intel*.
via ropesgray.com
2025
1 update
2025
1 updateThe Ninth Circuit Court of Appeals affirmed the district court's dismissal of Anderson's claims, ruling that he failed to plausibly allege a breach of either the duty of prudence or the duty of loyalty. The court emphasized that Anderson did not provide a 'meaningful benchmark' for comparison and that ERISA's prudence duty focuses on the fiduciary's methods, not the investment outcomes.
via plansponsor.com·plansponsor.com·planadviser.com·law.justia.com·scotusblog.com
2019
1 update
2019
1 updateWinston Anderson, a former Intel employee, filed a class-action lawsuit against Intel's retirement plan fiduciaries, alleging breaches of fiduciary duty under ERISA. The lawsuit claimed that Intel acted imprudently by investing plan assets in hedge funds and private equity funds, and breached its duty of loyalty by steering retirement funds to companies in which Intel Capital had already invested.
via plansponsor.com·plansponsor.com·planadviser.com·law.justia.com·scotusblog.com
Story began · 6 years, 8 mo ago