Supreme Court building Thecircuit split lets plaintiffs simply claim they never read plandocuments, and without input from SCOTUS, plaintiffs' attorneyswill be encouraged to forum-shop claims within the Ninth Circuit,Intel says. (Photo: Shutterstock)

Fiduciaries to Intel Corp.'s defined contribution plans havepetitioned the Supreme Court to clarify the Employee RetirementIncome Security Act's statute of limitations.

Intel's petition arises from a claim first brought in 2015 inthe U.S. District Court for the Northern District of California. Aformer Intel employee alleged fiduciaries to two definedcontribution plans sponsored by the firm breached ERISA by loadinga target-date fund with large allocations tohedge funds and private equity investments.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.