Cisco Retirement Plan Appeal Put on Hold Amid Supreme Court Review

A court has paused an appeal challenging Cisco's retirement plan while the US Supreme Court weighs in on the standard for challenging 401(k) investments. The Ninth Circuit called off arguments in a case accusing Cisco of mismanaging its 401(k) plan by offering poorly performing target-date funds from BlackRock Inc.

The case, which was set to be argued on September 2, will now wait until the Supreme Court issues its opinion in Anderson v. Intel Corp. Investment Policy Committee. This decision is expected to have a significant impact on retirement plans nationwide.