In LaRue v. DeWolff, Boberg & Assocs., Inc., 128 S. Ct. 1020, plaintiff claimed $150,000 in losses as a result of his employer?s failure to effect the changes to his 401(k) account that he previously directed, alleging a breach of fiduciary duty claim under the Employee Retirement Income Security Act (ERISA) for failing to carry out his instructions.
Previously, any relief granted for breach of fiduciary duty under a 401(k) plan was required to benefit the entire plan, rather than an individual participant. A unanimous Supreme Court, however, decided that ERISA allows individual claims by plan participants for breach of fiduciary duty where the only recovery is to an individual?s personal account.

Back to main