An article from Michael T. Graham, Paul M. Hamburger, Nancy G. Ross, and John A. Litwinski details the Supreme Court decision affecting remedies available under ERISA for individual plan participants in 401(k) plans.

In LaRue v. DeWolff, Boberg & Associates, Inc., the Supreme Court clarified that an individual plan participant may recover damages as a result of an ERISA fiduciary’s breach of duty even if that breach affected only that individual’s 401(k) plan account.  Prior to LaRue, courts had generally taken the view that ERISA Section 502(a)(2) provided a remedy for fiduciary breach claims only for relief sought for the plan as a whole. 

Read the whole article here on the McDermott, Will & Emery website.