1、CRS Legal Sidebar Prepared for Members and Committees of Congress Legal SidebarLegal Sidebari i Supreme Court Rules on Retirement Plan Fiduciary Duty in Hughes v. Northwestern University Updated January 31, 2022 Among Congresss policy priorities is safeguarding retirement income security for working
2、 Americans, retirees, and their families. In January 2022, the Supreme Court issued its decision in Hughes v. Northwestern University, a case concerning a plan fiduciarys duty to control retirement plan fees and manage a plans investment lineup under the Employee Retirement Income Security Act (ERIS
3、A), and the circumstances under which participants and others may sue fiduciaries for a breach of these duties. In Hughes, the Court emphasized that as part of these duties, plan fiduciaries must continuously monitor plan investments and remove imprudent investments from the plan, even if the plan o
4、ffers an extensive range of investments. This Legal Sidebar provides background on ERISAs requirements for retirement plans and plan fiduciaries; discusses the Courts decision in Hughes; and concludes with select considerations for Congress. Background ERISA provides a comprehensive federal scheme f
