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2nd Circuit: Presumption Of Prudence Doesn't Apply To Particular UBS Plan
NEW YORK - The fiduciaries of an eligible individual account plan (EIAP) that permits investment in employer stock but does not require or "strongly encourage" such investments are not entitled to the...
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Plan Participants Fail To Show That Fiduciary Breach Caused Losses, Judge Finds
DURHAM, N.C. - Participants in R.J. Reynolds Tobacco Co.'s 401(k) plan are not entitled to recover for breach of fiduciary duty under the Employee Retirement Income Security Act based on the removal of...
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Duty Of Prudence Applies To Company-Stock Fund, 11th Circuit Rules
ATLANTA - The 11th Circuit U.S. Court of Appeals ruled March 5 in an unpublished opinion that although the Employee Retirement Income Security Act exempts the fiduciaries of eligible individual account...
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2nd Circuit Affirms Dismissal Of 401(k) Plan Participant's Fiduciary Duty Claims
NEW YORK - A 401(k) plan participant failed to sufficiently plead that the plan fiduciaries breached their fiduciary duties by imprudently selecting and monitoring the plan funds and by allowing...
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Participants Oppose High Court Review Of 6th Circuit Stock-Drop Lawsuit
WASHINGTON, D.C. - Participants in the Fifth Third Bankcorp employee stock ownership plan (ESOP) on Feb. 22 filed a brief opposing U.S. Supreme Court review of a Sixth Circuit U.S. Court of Appeals...
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Nonfiduciary Seeks High Court Review Of Ruling Finding Liability, No Exemption
WASHINGTON, D.C. - A nonfiduciary financial planner who marketed a tax avoidance scheme as a multiple-employer welfare arrangement (MEWA) to several employers filed a petition for a writ of certiorari...
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Retroactive Amendment Of Discount Rate Is Proper, 7th Circuit Rules
CHICAGO - Retirement plans did not violate the Employee Retirement Income Security Act by retroactively modifying the discount rates used to calculate lump-sum payouts, rather than using the discount...
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Supreme Court Will Not Review Ruling On Normal Retirement Age
WASHINGTON, D.C. - The U.S. Supreme Court on Feb. 19 denied review of a Fourth Circuit U.S. Court of Appeals ruling that a cash balance pension plan sponsored by Bank of America Corp. did not...
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6th Circuit: Health Insurer Properly Denied Benefits In Eating Disorder Suit
CINCINNATI - The Sixth Circuit U.S. Court of Appeals on March 4 affirmed in an unpublished opinion that a health insurer did not err in denying coverage for the treatment of eating disorders (Mark...
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Providers Lack ERISA Standing; Reimbursement Suit Dismissed
NEWARK, N.J. - A federal judge in New Jersey on Feb. 25 in an unpublished opinion granted a health insurer's motion to dismiss a reimbursement suit against it, saying that the assignment the plaintiff...
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New Jersey Federal Judge Dismisses Reimbursement Suit, Finds Invalid Assignment
NEWARK, N.J. - A medical provider lacked standing under the Employee Retirement Income Security Act to bring a reimbursement lawsuit against a welfare benefit fund because it lacked a valid assignment,...
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Participant Sues Over Denial Of Coverage To Same-Sex Spouse
PHILADELPHIA - A participant in a multiemployer welfare plan on Feb. 11 sued the plan and his employer, alleging that the plan's refusal to cover his same-sex spouse violated the terms of the plan and...
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High Court Won't Review Waiver Doctrine In ERISA Case
WASHINGTON, D.C. - The U.S. Supreme Court on March 4 denied a health plan's petition seeking review of a Ninth Circuit U.S. Court of Appeals ruling that the plan, which is governed by the Employee...
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High Court Denies ERISA Plan's Petition For Review Of Benefit Denial Decision
WASHINGTON, D.C. - The U.S. Supreme Court on Feb. 19 denied review of a Sixth Circuit U.S. Court of Appeals ruling that a plan administrator's denial of coverage for attention-deficit hyperactivity...
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8th Circuit Denies Appeal Of Denial Of Class Certification In Revenue-Sharing...
ST. LOUIS - The Eighth Circuit U.S. Court of Appeals on Feb. 13 ruled that it lacked jurisdiction to hear a 401(k) plan trustee's appeal of a district court's denial of class certification of claims...
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6th Circuit: Fund Properly Terminated Disability Benefits Through Plan Amendment
CINCINNATI - The Sixth Circuit U.S. Court of Appeals ruled 2-1 on Feb. 15 that a multiemployer plan did not abuse its discretion in applying a plan amendment retroactively to terminate disability...
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2nd Circuit Upholds Benefit Denial Based On Eligibility Requirement
NEW YORK - A federal district court properly held that a pension plan did not violate the Employee Retirement Income Security Act by denying disability benefits, even though the district court relied...
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Calculation Of LTD Benefits Was Reasonable, 10th Circuit Rules
DENVER - The 10th Circuit U.S. Court of Appeals on Feb. 27 affirmed a disability insurer's calculation of long-term disability (LTD) benefits but reversed the insurer's calculation of short-term...
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High Court Declines To Decide Whether Equitable Lien Is Enforceable Under ERISA
WASHINGTON, D.C. - The U.S. Supreme Court on Feb. 19 denied review of a Ninth Circuit U.S. Court of Appeals' 2-1 ruling that a disability plan insurer may not enforce an equitable lien under the...
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High Court Denies Review Of ERISA Disability Ruling
NEW ORLEANS - The U.S. Supreme Court on Feb. 19 denied review of a Fifth Circuit U.S. Court of Appeals ruling that a plan administrator that refused to classify a disability as "football degenerative"...
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