On June 9, 2025, the Stable Value Investment Association (SVIA), in partnership with the U.S. Chamber of Commerce, successfully submitted a motion for leave to file an amicus brief in the case of Gonzalez v. JPMorgan Chase Bank. The case is currently pending in the U.S. District Court for the District of New Jersey.
Our joint brief supports JPMorgan’s motion to dismiss a challenge to its use of a stable value fund in its retirement plan. The brief offers the Court additional context on the structure and purpose of stable value products and emphasizes their role as a prudent, diverse, and flexible investment option for defined contribution plans.
Reinforcing the Role of Stable Value
This filing reflects SVIA’s continued commitment to ensuring that the value of stable value is clearly understood by courts, policymakers, and plan sponsors alike. As we explain in the brief:
- ERISA focuses on process, not outcomes, giving fiduciaries the flexibility to make investment decisions tailored to their participants.
- Stable value funds vary by design, with differences in crediting rates, exit provisions, and investment strategies, all valid considerations in fiduciary decision-making.
- Legal clarity supports innovation. Clear legal understanding helps preserve employer confidence in offering innovative retirement plan options, including stable value.
