If you are responsible for selecting the mutual funds offered in your company’s 401(k) plan, pay attention. If you choose a more expensive fund, or don’t explain why you made the choice you did, your decision could land you in hot water.

On May 18, 2015, the United States Supreme Court issued an opinion in the case of Tibble, et al. v. Edison International, et al.

The plaintiffs in Tibble sued the individuals within their company who selected the investment options in their company’s 401(k) plan for breach of fiduciary duty because they selected six mutual funds that were more expensive than six identical institutional-class mutual funds that were also available.