U.S. Supreme Court Hears Arguments On ERISA ‘Actual Knowledge’ Standard

Mealey's (December 4, 2019, 2:34 PM EST) -- WASHINGTON, D.C. — Plan disclosures sent to a plan participant more than three years before that participant filed suit alleging imprudent investment allocations provided actual knowledge under the Employee Retirement Income Security Act, and the Ninth Circuit U.S. Court of Appeals erred when it reversed a trial court’s summary judgment ruling for the plan fiduciaries, the attorney representing those fiduciaries argued Dec. 4 before the U.S. Supreme Court (Intel Corporation Investment Policy Committee, et al. v. Christopher M. Sulyma, No. 18-1116, U.S. Sup.)....