Cornell Employees’ ERISA Case Catches Supreme Court’s Attention

The US Supreme Court signaled interest in hearing a case over Cornell University’s retirement plan by asking the school to respond to a petition asking how relationships between benefit plans and their service providers can be challenged under ERISA.

The justices on Thursday asked Cornell to respond to a petition filed by current and former university workers challenging the school’s retirement plan fees and investment options. The petition asks the high court to resolve a circuit split over how courts interpret the Employee Retirement Income Security Act’s prohibited transaction rules, which are aimed at tamping down on relationships between benefit ...