4th Circuit Panel Affirms Ruling For 401(k) Adviser, Splits On Duty Of Loyalty

(July 18, 2023, 3:20 PM EDT) -- RICHMOND, Va. — In a decision that drew a partial dissent, a Fourth Circuit U.S. Court of Appeals panel on July 17 upheld a ruling that a retirement plan adviser did not breach its duties of prudence and loyalty, saying in part that “the bench-trial record shows [Aon Hewitt Investment Consulting Inc.]’s advice was solely motivated by benefitting plan participants.”...