Supreme Court decision increases personal liability for 401(k) plan sponsors

The U.S. Supreme Court recently reversed the Fourth Circuit in a decision that expands the relief available to participants with individual account retirement plans. The Court held that Section 502(a)(2) of the Employee Retirement Income Security Act of 1974 (ERISA) permits a participant to recover for a fiduciary breach that affects the value of his account. The decision potentially exposes plan sponsors and fiduciaries to increased liability. Read on to see how the Court reached its conclusion. Read More...