The U.S. Supreme Court’s April 17 2025 ruling in *Cunningham v. Cornell University* reshaped the legal landscape for retirement‑plan fiduciaries by confirming that plaintiffs need only plead the bare elements of an ERISA § 406(a) prohibited‑transaction claim, leaving the plan sponsor to raise statutory exemptions as affirmative defenses. While the case name dominates headlines, the real question for practitioners is…
The U.S. Supreme Court’s April 17 2025 ruling in *Cunningham v. Cornell University* reshaped the legal landscape for retirement‑plan fiduciaries by confirming that plaintiffs need only plead the bare elements of an ERISA § 406(a) prohibited‑transaction claim, leaving the plan sponsor to raise statutory exemptions as affirmative defenses. While the case name dominates headlines, the real question for practitioners is…
Once a lawsuit passes the motion to dismiss, it enters discovery—a costly and time-consuming process. Here’s what plan sponsors may have to produce:– Service agreements with third-party administrators and investment firms– Fee schedules, payment records, and invoices– Benchmarking data comparing vendor fees to industry standards– Internal emails, meeting notes, and board minutes discussing vendor selection–…