SAN FRANCISCO - Fiduciaries of a 401(k) plan violated their duty of prudence under Employee Retirement Income Security Act Section 404(a) by including retail-class shares of three specific mutual funds in the plan menu without investigating the possibility of including the institutional share classes of those funds, the Ninth Circuit U.S. Court of Appeals affirmed March 21 (Glenn Tibble, et al. v. Edison International, et al., Nos. 10-56406, 10-56415, 9th Cir.; 2013 U.S. App. LEXIS 5598)....(read more)![]()
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