This article originally appeared in The Daily Upside on October 9, 2026.
A Supreme Court decision backing Intel would mean that plaintiffs in some jurisdictions could face a bigger hurdle for claims involving investment underperformance under the Employee Retirement Income Security Act. That seems like the probable outcome based on the tenor of the majority of the justices’ questions during the Tuesday hearing, several attorneys told the Retirement Upside. But that’s far from a guaranteed outcome at this point.
A pro-Intel ruling could spare future defendants from the substantial time and expense of discovery, though the implications for excessive-fee claims will depend on the court’s reasoning and the scope of the decision, said Bonnie Treichel, founder of Endeavor Retirement.
“A more detailed definition of a ‘meaningful benchmark’ would provide greater certainty but could also provide a checklist for plaintiffs’ firms drafting complaints,” Treichel noted. “Remember, as well, that the DOL’s proposed investment selection rule uses ‘meaningful benchmark’ as a criterion in fund selection and review.”