Supreme Court to hear dispute over Intel retirement fund investments

The Supreme Court is set to hear oral arguments in Anderson v. Intel Corp Investment Policy Committee, SCOTUSblog reported. The case centers on a dispute under the Employee Retirement Income Security Act regarding how employers manage employee retirement funds. [1]

The central legal issue is whether aggrieved workers can claim their employer invested retirement funds imprudently simply by proving the funds performed worse than other options. SCOTUSblog reported that the court must decide if employees must also present a specific benchmark to evaluate that underperformance. [1]

The lawsuit involves defined-contribution retirement plans provided by Intel, according to SCOTUSblog. Under these plans, the employer agrees to contribute specific amounts toward employee retirement accounts. [1]

Since the Supreme Court was established in 1789, 116 people have been appointed and confirmed as justices. For the court's first 180 years, justices were almost exclusively white male Protestants of Anglo or Northwestern European descent. [2]