Brad Campbell Speaks With 401(k) Specialist About Anderson v. Intel and ERISA Fiduciary Pleading Standards

Benefits and executive compensation partner Brad Campbell spoke with 401(k) Specialist about the potential impact of Anderson v. Intel, a closely watched U.S. Supreme Court case involving ERISA fiduciary pleading standards and the use of “meaningful benchmarks” when challenging retirement plan investment performance.

As the Court considers how plaintiffs must benchmark allegedly imprudent plan investments, Campbell emphasized that ERISA’s fiduciary standard is rooted in the decision-making process rather than hindsight comparisons to broader market performance. Comparing a plan’s funds to broader investments, he noted, can undercut that core principle. “ERISA doesn’t require us to pick only winners,” Campbell said. “The prudence of the investment is determined by the process you used to select it, not by whether markets go up or down.”