The Supreme Court's LaRue Decision
April 8, 2008
1:00-2:30 pm ET / 12:00 pm -1:30 pm CT / 11:00 am-12:30 pm MT / 10:00 am-11:30 am PT
Nationwide, District of Columbia
United States of America
Moderator: Karen Handorf, Cohen Milstein Hausfeld & Toll PLLC. Panelists: Bob Eccles, O'Melveny & Myers LLP; Tim Hauser, Department of Labor; Mary Ellen Signorille, AARP.
The Supreme Court’s decision in LaRue v. DeWolff, Boberg & Associates, Inc. makes it clear that a single participant can bring a fiduciary breach claim on behalf of a defined contribution plan, even if the losses relate only to that participant’s account. However, with two concurring opinions, the LaRue decision leaves many unanswered questions. Our panel of experienced ERISA litigators will discuss how the LaRue decision is likely to impact future 401(k) plan litigation. Topics will include: Do participants have to exhaust administrative remedies; Are fiduciary claims in defined contribution plans really benefit claims; What actions should 401k plans take to lessen the possibility of lawsuits; Can former participants bring suit if they’ve gotten a distribution;
What are the implications of LaRue for other types of plans; What types of claims & equitable remedies will be available under Section 502 (a)(3); Will this case impact issues surrounding auto-enrollment & investment advice; Who's liable if participant's investment instructions aren't followed.
Ms. Mary Karounos