Susan Schaefer and Joseph Urwitz wrote this bylined article on the case law for fiduciary duties of a directed trustee under ERISA. Because the Supreme Court’s 2014 Dudenhoeffer ruling held that ERISA does not provide a presumption of prudence to protect fiduciaries of plans investing in employer securities, the authors wrote “it is clear that directed trustees can’t simply bury their heads in the sand when it comes to overseeing the investment decisions made by named fiduciaries. A directed trustee must, at minimum, make a cursory review of the direction it receives to ensure that it complies with the plan and ERISA.”
Read the full article.
