Jerry Schlichter says he wasn't surprised by this week's Supreme Court decision in Tibble vs. Edison.
"We were confident the Supreme Court would make the right decision, and not rule that 401(k) plans could effectively be run on autopilot," said the founding partner in St. Louis-based Schlichter, Bogard and Denton, the boutique law firm responsible for driving much of the litigation against defined contribution plans over the past decade.
Calling the unanimous ruling "a victory for American workers," Schlichter said the decision clarifies and establishes a standard of prudence for fiduciaries to large workplace savings plans.
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