The Supreme Court has agreed to delay hearing a complaint against Intel Corp. regarding allegedly imprudent investment options in its 401(k) plans until its next term, starting in October. Both parties requested more time to submit documents. The case will review the “meaningful benchmark” rule, which requires plaintiffs to identify comparable investments when alleging mismanagement of retirement plan assets, a rule the Intel plaintiffs argue is inconsistently applied and overly strict.
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Supreme Court to Hear Intel 401(k) Complaint Next Term
The Supreme Court has agreed to delay hearing a complaint against Intel Corp. regarding allegedly imprudent investment options in its 401(k) plans until its next term, starting in October. Both parties requested more time to submit documents. The case will review the “meaningful benchmark” rule, which requires plaintiffs to identify comparable investments when alleging mismanagement of retirement plan assets, a rule the Intel plaintiffs argue is inconsistently applied and overly strict.