DOL's Amicus Briefs Focused on Employer Stock During the First Obama Administration

In an article in the BNA Pension & Benefits Reporter, Jacklyn Wille notes that the Department of Labor filed more amicus briefs about employee stock than on any other topic. Of the 111 amicus briefs filed by the DOL during the Obama administration, 20 (or 18%) were on employer stock, substantially more than the 13% on the next most common topic, equitable relief. Most of the amicus briefs on employer stock were in the first Obama administration, and most argued against the so-called Moench presumption of prudence, which was struck down by the Supreme Court in 2014.