I am determined to finish my countdown of my ten most popular posts of 2025 while we are still within sight of the beginning of the year – in other words, before the calendar flips over to February.

So with that said, I am taking a break from drafting a number of complaints that I am trying to get filed, as well as the great fun of drafting discovery, to write up this post about my fifth most popular post of 2025. The fifth most popular post on this blog in 2025 concerned the lessons for plan sponsors and fiduciaries about including private equity investments in plans that could be drawn from the Ninth Circuit’s decision in Intel.

It’s ironic, and not evidence of a rigged contest, that this post came up as the fifth most popular right now, because the latest news in ERISA land is that the Supreme Court has just accepted cert to hear the Intel case.

So without any more delay, here is the fifth most popular post on the blog from 2025: “What the Ninth Circuit’s Decision in Intel Tells Us About the Fiduciary Risks of Adding Private Equity Options to 401(k) Plans.”