Generac Power 401(k) Judge Acknowledges Shift in ERISA Standards

A former Generac Power Systems Inc. employee challenging the company’s 401(k) plan fees can amend his complaint again to reflect the Seventh Circuit’s “evolving standard” for ERISA fiduciary breach claims, a federal judge said.

Judge Pamela Pepper of the US District Court for the Eastern District of Wisconsin on Tuesday granted Dereck Case’s request to file a second amended complaint in his proposed class action bringing claims under the Employee Retirement Income Security Act. Pepper explained that since Generac moved to dismiss the case back in 2021, the US Supreme Court has issued one decision on ERISA’s fiduciary breach pleading ...