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With its decision in the Loper Bright case, the Supreme Court overturned its 1984 opinion in the Chevron case. In the latter case the Supreme Court said that regulations issued by federal administrative agencies should, if the law was ambiguous, be given deference—which came to be known as “Chevron deference.” That decision had the effect of tilting the scales in favor of finding that the regulations were properly issued.
1 Case citations are omitted from the quotes of the majority opinion in the Loper Bright decision.
2 The bolded language in any quotes is mine and is for emphasis.
The views expressed here are those of Fred Reish. They should not be construed as investment advice or as the views of Hartford Funds or the employees of Hartford Funds. They are based on available information and are subject to change without notice. The information above is intended as general information and is not intended to provide, nor may it be construed as providing, tax, accounting or legal advice. As with all matters of a tax or legal nature, please consult with your tax or legal counsel for advice. This material and/or its contents are current at the time of writing and may not be reproduced or distributed in whole or in part, for any purpose, without the express written consent of Fred Reish.
MFDC083 3711974
JD, Partner, Faegre Drinker Biddle & Reath LLP
Fred Reish is an ERISA attorney whose practice focuses on fiduciary responsibility, retirement income, and plan operational issues. He has been recognized as one of the “legends” of the retirement industry by both PLANADVISER magazine and PLANSPONSOR magazine.