October Term 2007 · Docket 06-856
Can a participant sue for losses in their individual account under ERISA Section 502(a)(2)?
The dispute centers on whether a participant can recover losses from their individual account under ERISA Section 502(a)(2).
Verified source milestones
- — An official oral-argument transcript was verified.
The arguments, in order
This case may have been argued more than once. Each entry below uses that session's official transcript. Later arguments do not erase earlier ones.
Argument 1 ·
What happened at the argument
LaRue's counsel argued Section 502(a)(2) permits recovery of individual losses.
DeWolff's counsel argued the statute requires plan-level losses.
Chief Justice Roberts questioned the availability of investment choices.
Justice Scalia requested specific code numbers for the provisions.
Read the official transcript for this argument · Official argument details
Sources used for this argument breakdown
- Official Supreme Court Transcript — file page 21, lines 35-47 — Transcript, file page 21, lines 35-47
- Official Supreme Court Transcript — file page 3, lines 19-29 — Transcript, file page 3, lines 19-29
- Official Supreme Court Transcript — file page 3, lines 31-39 — Transcript, file page 3, lines 31-39
- Official Supreme Court Transcript — file page 3, lines 7-17 — Transcript, file page 3, lines 7-17
- Official Supreme Court Transcript — file page 30, lines 45-15 — Transcript, file page 30, lines 45-15
- Official Supreme Court Transcript — file page 4, lines 23-25 — Transcript, file page 4, lines 23-25
- Official Supreme Court Transcript — file page 4, lines 31-41 — Transcript, file page 4, lines 31-41
- Official Supreme Court Transcript — file page 5, lines 11-11 — Transcript, file page 5, lines 11-11
- Official Supreme Court Transcript — file page 5, lines 17-19 — Transcript, file page 5, lines 17-19
- Official Supreme Court Transcript — file page 5, lines 49-7 — Transcript, file page 5, lines 49-7
- Official Supreme Court Transcript — file page 6, lines 11-13 — Transcript, file page 6, lines 11-13
- Official Supreme Court Transcript — file page 6, lines 25-29 — Transcript, file page 6, lines 25-29
- Official Supreme Court Transcript — file page 6, lines 39-43 — Transcript, file page 6, lines 39-43
- Official Supreme Court Transcript — file page 6, lines 49-3 — Transcript, file page 6, lines 49-3
- Official Supreme Court Transcript — file page 7, lines 15-17 — Transcript, file page 7, lines 15-17
- Official Supreme Court Transcript — file page 7, lines 35-37 — Transcript, file page 7, lines 35-37
A citizen's guide to the whole case
What this case is about
James LaRue seeks to recover losses from his individual account. DeWolff, Boberg & Associates argues the statute only covers plan-level losses.
Official sources for this section
- Official Supreme Court Transcript — file page 21, lines 35-47 — Transcript, file page 21, lines 35-47
- Official Supreme Court Transcript — file page 3, lines 19-29 — Transcript, file page 3, lines 19-29
- Official Supreme Court Transcript — file page 30, lines 45-15 — Transcript, file page 30, lines 45-15
How the case got here
The Supreme Court heard oral argument in this case on November 26, 2007.
Official sources for this section
- Official Supreme Court Transcript — file page 3, lines 7-17 — Transcript, file page 3, lines 7-17
What each side wants
LaRue wants to recover losses from his individual account.
DeWolff wants the Court to limit recovery to plan-level losses.
Official sources for this section
- Official Supreme Court Transcript — file page 21, lines 35-47 — Transcript, file page 21, lines 35-47
- Official Supreme Court Transcript — file page 3, lines 19-29 — Transcript, file page 3, lines 19-29
- Official Supreme Court Transcript — file page 30, lines 45-15 — Transcript, file page 30, lines 45-15
What each side says
LaRue argues Section 502(a)(2) covers individual account losses.
DeWolff argues the statute only covers losses to the plan as a whole.
Official sources for this section
- Official Supreme Court Transcript — file page 21, lines 35-47 — Transcript, file page 21, lines 35-47
- Official Supreme Court Transcript — file page 3, lines 19-29 — Transcript, file page 3, lines 19-29
- Official Supreme Court Transcript — file page 30, lines 45-15 — Transcript, file page 30, lines 45-15
What the justices asked
Chief Justice Roberts asked if the plan document is in the record.
Justice Scalia asked for the specific code sections involved.
Official sources for this section
- Official Supreme Court Transcript — file page 3, lines 31-39 — Transcript, file page 3, lines 31-39
- Official Supreme Court Transcript — file page 4, lines 23-25 — Transcript, file page 4, lines 23-25
- Official Supreme Court Transcript — file page 4, lines 31-41 — Transcript, file page 4, lines 31-41
- Official Supreme Court Transcript — file page 5, lines 11-11 — Transcript, file page 5, lines 11-11
- Official Supreme Court Transcript — file page 5, lines 17-19 — Transcript, file page 5, lines 17-19
- Official Supreme Court Transcript — file page 5, lines 49-7 — Transcript, file page 5, lines 49-7
- Official Supreme Court Transcript — file page 6, lines 11-13 — Transcript, file page 6, lines 11-13
- Official Supreme Court Transcript — file page 6, lines 25-29 — Transcript, file page 6, lines 25-29
- Official Supreme Court Transcript — file page 6, lines 39-43 — Transcript, file page 6, lines 39-43
- Official Supreme Court Transcript — file page 6, lines 49-3 — Transcript, file page 6, lines 49-3
- Official Supreme Court Transcript — file page 7, lines 15-17 — Transcript, file page 7, lines 15-17
- Official Supreme Court Transcript — file page 7, lines 35-37 — Transcript, file page 7, lines 35-37
Why it matters
This case defines the scope of fiduciary liability for individual retirement accounts.
Official sources for this section
- Official Supreme Court Transcript — file page 21, lines 35-47 — Transcript, file page 21, lines 35-47
- Official Supreme Court Transcript — file page 3, lines 19-29 — Transcript, file page 3, lines 19-29
- Official Supreme Court Transcript — file page 30, lines 45-15 — Transcript, file page 30, lines 45-15
What happens next
This article currently covers the argument record. Use the official docket link for later case activity.
Official sources for this section
- Official Supreme Court Transcript — file page 3, lines 31-39 — Transcript, file page 3, lines 31-39
- Official Supreme Court Transcript — file page 3, lines 7-17 — Transcript, file page 3, lines 7-17
- Official Supreme Court Transcript — file page 4, lines 23-25 — Transcript, file page 4, lines 23-25
- Official Supreme Court Transcript — file page 4, lines 31-41 — Transcript, file page 4, lines 31-41
- Official Supreme Court Transcript — file page 5, lines 11-11 — Transcript, file page 5, lines 11-11
- Official Supreme Court Transcript — file page 5, lines 17-19 — Transcript, file page 5, lines 17-19
- Official Supreme Court Transcript — file page 5, lines 49-7 — Transcript, file page 5, lines 49-7
- Official Supreme Court Transcript — file page 6, lines 11-13 — Transcript, file page 6, lines 11-13
- Official Supreme Court Transcript — file page 6, lines 25-29 — Transcript, file page 6, lines 25-29
- Official Supreme Court Transcript — file page 6, lines 39-43 — Transcript, file page 6, lines 39-43
- Official Supreme Court Transcript — file page 6, lines 49-3 — Transcript, file page 6, lines 49-3
- Official Supreme Court Transcript — file page 7, lines 15-17 — Transcript, file page 7, lines 15-17
- Official Supreme Court Transcript — file page 7, lines 35-37 — Transcript, file page 7, lines 35-37
Official Court provenance
Official docket and case history · Official Supreme Court oral-argument detail page
Title and summary sources
- Official Supreme Court Transcript — file page 21, lines 35-47 — Transcript, file page 21, lines 35-47
- Official Supreme Court Transcript — file page 3, lines 19-29 — Transcript, file page 3, lines 19-29
- Official Supreme Court Transcript — file page 30, lines 45-15 — Transcript, file page 30, lines 45-15
- Official Supreme Court Transcript — file page 21, lines 35-47 — Transcript, file page 21, lines 35-47
- Official Supreme Court Transcript — file page 3, lines 19-29 — Transcript, file page 3, lines 19-29
- Official Supreme Court Transcript — file page 30, lines 45-15 — Transcript, file page 30, lines 45-15
Revision history
- Revision 1 · Official Transcript ·
Correction: Rewritten to the concise citizen-facing editorial standard.
- Revision 2 · Official Transcript ·
Correction: Migrated to the dated official Court activity contract without model use.