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.
