Intel Workers Seek SCOTUS Ruling on Meaningful 401(k) Benchmarks

Intel Corp. workers challenging the private equity investments in their 401(k) plan joined the chorus asking the US Supreme Court to review the “meaningful benchmark” standard courts use to parse claims of retirement plan mismanagement.

The “meaningful benchmark” standard, which has been used to varying degrees by the Sixth, Seventh, Eighth, Ninth, and Tenth circuits, asks whether workers alleging fiduciary imprudence in their 401(k) plans have identified a better alternative that’s sufficiently similar to the fund or fee structure being challenged. In June, the Supreme Court signaled interest in this topic by asking the US solicitor ...