U.S. Court of Appeals for the Eighth Circuit

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Eighth Circuit affirms that defendant did not violate ERISA by periodically resetting the credit rating for its product

September 02, 2022

Click here to view the opinion.

U.S. Chamber files amicus brief in ERISA case

September 16, 2021

The U.S. Chamber’s coalition amicus brief urged the Eighth Circuit to hold that defendant did not violate ERISA by exercising its contractual right to periodically reset the crediting rate for its fixed income product, because Principal’s rate-setting process reasonably accounted for the risks and costs of the product and resulted in a desirable, competitive product for participants. Nancy G. Ross, Michael A. Scodro, and Jed W. Glickstein of Mayer Brown LLP and the U.S. Chamber’s Litigation Center served as co-counsel for the U.S. Chamber.

The U.S. Chamber previously filed a coalition brief in the Eighth Circuit at an earlier stage of this case.

Case Documents