On
LaRue participated in the DeWolff 401(k) Plan. The Plan permitted participants to direct the investment of their contributions in accordance with specified procedures and LaRue directed DeWolff to make certain changes to the investments in his individual account. DeWolff did not carry out those instructions and allegedly the omission reduced the value of LaRue’s investment interest in the Plan by $150,000.
The Supreme Court held that LaRue could bring his claim under Section 502(a)(2) of ERISA, which allows a claim for “appropriate relief” under ERISA Section 409. ERISA Section 409 allows recovery of money to a plan when there is a breach of fiduciary duty.
.jpg)
Comment Preview