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11th Circuit Revives ERISA Suit Over Royal Caribbean Retirement Plan Investments
According to the appellate court’s ruling, ERISA plaintiffs do not always need an ‘apples-to-apples’ investment benchmark to demonstrate imprudence.
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A Minnesota federal judge allowed claims of target-date-fund imprudence and self-dealing to proceed, while narrowing other theories.
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Private market investments often include no agreed-upon yardstick for benchmarking performance or determining whether fiduciaries made the right comparison.
