Specifically, the petition for writ of certiorari asked the Supreme Court to answer the question: “In pleading a breach of fiduciary duty under ERISA, is it sufficient for a plaintiff to allege a deficient decision-making process indirectly through inferences from the facts known to her?”
Setting defaults too low, choosing the wrong default investment and offering company stock as an investment option could result in unintended consequences, BlackRock found.
In light of the market volatility, they fled from equities
A judge ultimately found that Great-West Life & Annuity Insurance Company was not a fiduciary with respect to the fund and the plaintiff did not show that, as a party-in-interest, the company knew its actions violated ERISA.