WASHINGTON—The Supreme Court said Monday that employers must regularly review their retirement offerings, unanimously ruling for Northwestern University employees who argued the school’s defined-contribution plan offered a confusing number of expensive investment options.
Separately, the court added several significant cases to its fall docket, including a suit that could limit federal power to combat water pollution by narrowing the definition of wetlands covered by the Clean Water Act.
The court also rejected House Minority Leader Kevin McCarthy’s (R., Calif.) suit against proxy voting rules that Democrats, who have a House majority, instituted to stem the spread of Covid-19. As is typical, the court’s brief order provided no explanation for declining to hear the case. Federal district and appeals courts in Washington dismissed the suit, finding that the Constitution precluded challenging voting rules the House adopted for its own proceedings.
In the Northwestern case several current and former employees claim that the university mismanaged their retirement accounts by exposing them to funds that charged excessive management and record-keeping fees. The case now returns to the lower courts for a fresh look under Monday’s decision.
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