Manufacturers Association, Others File Amicus Brief In ERISA Disclosures Appeal

Mealey's (September 3, 2019, 12:33 PM EDT) -- WASHINGTON, D.C. — A Ninth Circuit U.S. Court of Appeals ruling finding an Employee Retirement Income Security Act plan participant can avoid the three-year statute of limitations challenging the prudence of a plan’s investment strategy by claiming he never read the required disclosures “is wrong” and “threaten[s] to exacerbate the growing trend of meritless litigation against ERISA plans and plan fiduciaries,” The National Association of Manufacturers, The Chamber of Commerce of the United States of America and other groups argue in an amicus brief filed Aug. 28 in the U.S. Supreme Court (Intel Corporation Investment Policy Committee, et al. v. Christopher M. Sulyma, No. 18-1116, U.S. Sup.)....