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Failure To Exhaust Administrative Remedies Is Not Excused, 2nd Circuit Rules
NEW YORK - Participants who challenged the amount of benefits due under a top-hat plan were not excused from exhausting administrative remedies before filing a lawsuit under the Employee Retirement...
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6th Circuit Affirms Dismissal Of ERISA Interference Claim
CINCINNATI - A terminated employee failed to make out a prima facie case of interference with benefits in violation of the Employee Retirement Income Security Act because she did not demonstrate that...
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Federal Judge Refuses To Grant Reconsideration In Environmental Coverage Suit
NEW YORK - A New York federal judge on April 1 denied a motion for reconsideration by an insurer involved in an environmental contamination coverage suit after determining that the insurer failed to...
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Judge Affirms Denial Of Company's Request To Recover $2.6M In Cleanup Costs
NEW ORLEANS - The National Pollution Funds Center (NPFC) did not act arbitrarily or capriciously in denying a request from Baby Oil Inc. and its insurer seeking reimbursement of $2,694,578.20 for costs...
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New York Federal Judge Awards Attorney Fees To Third-Party Defendant
NEW YORK - A New York federal judge on April 5 adopted a magistrate's recommendation that the successor of a company sued for silica and asbestos bodily injury claims is entitled to recover the...
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Md. Bankruptcy Judge Declines To Reconsider Lifting Stay To Settle Asbestos...
BALTIMORE - A Maryland federal bankruptcy judge on March 29 denied a request to reconsider her decision to lift the automatic stay in Lloyd E. Mitchell Inc.'s (LEM) Chapter 11 case so a confidential...
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Porter Hayden, Insurers Debate Coverage, Exhaustion Of Policies
BALTIMORE - Arguments made by Porter Hayden Co. for summary judgment in a long-running coverage dispute with two insurance companies "border on frivolous" and "are in direct contravention" of a court...
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No Coverage Owed For Plumbing Leak, California Appeals Panel Affirms
LOS ANGELES - An insurer owes no coverage for water and mold damages caused by a plumbing leak because the cause of the loss was wear and tear in the plumbing pipes and not sudden and accidental as...
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Insurer's Counterclaim For Return Of Overpayments Is Equitable, 2nd Circuit...
NEW YORK - A disability insurer's counterclaim seeking return of overpaid benefits is an action for "appropriate equitable relief" properly brought under Employee Retirement Income Security Act Section...
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High Court Will Not Review ERISA Subrogation Case
WASHINGTON, D.C. - The U.S. Supreme Court on March 25 declined to review an Eighth Circuit U.S. Court of Appeals ruling that a welfare benefit plan may not enforce its subrogation provision as an...
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9th Circuit: 401(k) Fiduciaries Breach Duties By Offering Retail-Class Shares
SAN FRANCISCO - Fiduciaries of a 401(k) plan violated their duty of prudence under Employee Retirement Income Security Act Section 404(a) by including retail-class shares of three specific mutual funds...
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Agencies Breach ERISA Duties By Failing To Adequately Fund Plan, 2nd Circuit...
NEW YORK - Not-for-profit agencies breached their fiduciary duties under the Employee Retirement Income Security Act by failing to increase contributions made to a multiemployer welfare benefits plan...
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Divided 2nd Circuit Holds Fiduciary Did Not Breach Duty Of Prudence
NEW YORK - The Second Circuit U.S. Court of Appeals affirmed 2-1 on April 2 that a pension plan failed to demonstrate that the plan administrator breached its fiduciary duties under the Employee...
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Presumption Of Prudence Applies; Judge Dismisses Pfizer Stock-Drop Case
NEW YORK - A federal judge in New York on March 29 dismissed claims by participants in Pfizer Inc.'s retirement savings plans that the plan fiduciaries breached their fiduciary duties under the...
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High Court Seeks Government View In Stock-Drop Lawsuit
WASHINGTON, D.C. - The U.S. Supreme Court on March 25 invited the solicitor general to file a brief expressing the view of the United States regarding a petition seeking high court review of a Sixth...
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Fiduciary Duty Claims Against JPMorgan Related To Lehman Investments Continue
NEW YORK - A federal judge in New York on March 27 refused to dismiss claims by a pension plan's trustees that JPMorgan Chase Bank, National Association (JPM) breached its fiduciary duties under the...
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Employers Oppose High Court Review Of Ruling Finding Nonfiduciary Liability
WASHINGTON, D.C. - The Third Circuit U.S. Court of Appeals properly ruled that a nonfiduciary financial planner who marketed a tax avoidance scheme as a multiple-employer welfare arrangement (MEWA) to...
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Indemnification Agreement Does Not Violate ERISA, California Federal Judge Rules
RIVERSIDE, Calif. - Employee Retirement Income Security Act Section 410(a) does not void an indemnification agreement between an employee stock ownership plan (ESOP) and its trustee where the agreement...
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Early Retirees May Receive Supplemental Benefits After Freeze, Judge Rules
GREENVILLE, S.C. - A federal judge in South Carolina on March 29 ruled that the anti-cutback provision of the Employee Retirement Income Security Act prevented a pension plan from enforcing an...
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6th Circuit: Retirees Who Executed Release Are Entitled To Additional Benefits
CINCINNATI - The Sixth Circuit U.S. Court of Appeals affirmed on March 28 that retirees are entitled to additional pension benefits on their claims that the cash-balance pension plan miscalculated...
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