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Intel Committee Pushes SCOTUS for Hard Deadline in Benefit Suits

Aug. 22, 2019, 2:24 PM

Intel Corp.'s retirement plan committee is pushing for a hard deadline for filing lawsuits over retirement benefits, telling the U.S. Supreme Court that a contrary rule would reward ignorance and complicate litigation.

The case asks when the clock starts running on the deadline to file a lawsuit under the Employee Retirement Income Security Act. The law requires plan participants to file suit within three years of acquiring “actual knowledge” of the breach or violation, with certain exceptions.

In reviving a challenge to the hedge fund and private equity investments in Intel’s 401(k) plan, the U.S. Court of Appeals for the ...