Supreme Court Ruling May Lead to More Fiduciary Lawsuits under ERISA

justice, law, court, judge, judgment, legal, trial, judicial, lawyer, justice, law, law, law, law, law, court, court, judge, judge, legal, lawyer

On April 17, 2025, the U.S. Supreme Court ruled that a group of employees may challenge their employer’s fee arrangement with a retirement plan service provider under the Employee Retirement Income Security Act (ERISA). In its unanimous decision, the Supreme Court took an employee-friendly view of statutory text and simplified the requirements for alleging a violation of ERISA’s prohibited transaction rules.