It appears court decisions frequently impact retirement plans. Starting with the U.S. Supreme Court, what impact will its recent ruling — confirming the ability of 401(k) participants to challenge high-cost investment options — have on retirement plans?

VH: The Court ruled in Tibble v. Edison Int’l that the duty to monitor investments in a 401(k) plan is ongoing and distinct from the duty to exercise prudence in selecting investments. The ERISA statute establishes a 6-year limitation period to file suit for breach of fiduciary duty. So if participants of a plan do not complain about the selection of investment options within 6 years, their claim could be barred as untimely.