Missouri’s ERISA pioneers take on the Supreme Court (again)
Jerry Schlichter, founding partner of Schlichter Bogard in St. Louis, has been referred to as “the Lone Ranger of the 401(k)s” for his pioneering work on Employment Retirement Income Security Act litigation. Now, he and his firm are once again representing workers in a landmark Supreme Court case.
Schlichter Bogard is representing the plaintiffs in Cunningham v. Cornell before the U.S. Supreme Court. The court recently held oral arguments in the case and its decision is still pending. Attorneys for Cornell did not return requests for comment.
At issue is whether a plaintiff can make a claim under ERISA’s provision prohibiting a plan fiduciary from knowingly engaging in transactions with barred parties, solely by the plaintiff alleging the transaction took place, according to Oyez.
ERISA attorneys are hopeful that the court’s decision to hear arguments in Cunningham v. Cornell University will resolve a circuit split regarding plaintiff pleas in prohibited transaction cases.
Years ago, Schlichter Bogard began looking into 401 (k) plans as it saw the change in the country’s retirement system shift from traditional pensions to the newer model, Schlichter said.
“My dad was a civil servant and when he died, my mom lived on his pension. She got a paycheck every month, she didn’t have to do anything, she didn’t have any risk, it was just that pension check,” he said. “That burden of risk has been on the...
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