30 Jul 2024
The Genie is Out of the Bottle. Will Loper Bright Result in Uncertainty for Plan Sponsors?
The U.S. Supreme Court, in overruling its prior Chevron decision, seems to allow lower courts to independently evaluate statutory text. Many regulations, promulgated by agencies like the IRS and the DOL, have previously been upheld using the deferential framework of Chevron. What if their regulations are challenged in courts under this new framework? Will court decisions have national application or might plan sponsors have to comply with a patchwork of different statutory interpretations depending on a particular court's jurisdiction?
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