The LaRue Ruling And Its Effect On 401(k) Plans

Law360, New York (March 6, 2008, 12:00 AM EST) -- Until recently, Supreme Court ERISA decisions have generally interpreted the statute narrowly when it came to granting relief for plan participants for alleged fiduciary breaches.[1]

A possible reversal in this trend occurred last week in LaRue v. DeWolff, Boberg & Associates Inc. (“LaRue”) [2].

The court unanimously held that any participant in a 401(k) or other individual account plan (such as a profit sharing plan, money purchase pension plan or ESOP) may sue plan fiduciaries personally in order to recover losses resulting from a fiduciary breach...
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