Argument in Supreme Court on Schlichter Bogard, and Denton case
On February 24, 2015, we had oral argument in the United States Supreme Court in the case of Tibble v. Edison, alleging excessive fees in a large 401(k) plan. We are pleased that briefs supporting our position were filed by the U.S. Solicitor General, AARP, National Pension Rights Center, and others.
The case was featured in many media stories because it is the first time the Supreme Court has taken a case involving a claim of excessive fees in a 401(k) plan. It will likely have a powerful impact on 401(k) plan sponsors? duty to protect employees? retirement assets by carefully monitoring fees and investment returns.