News & Analysis as of

Fiduciary Duty Employee Benefits Summary Plan Description

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Beneficiary Statements: No Good Deed Goes Unlitigated

Could listing designated beneficiaries on a participant statement spark a fiduciary breach lawsuit? In today’s world, the answer is always yes — and in LeBoeuf v. Entergy, it did....more

Proskauer - Employee Benefits & Executive...

Best Practices in Administering Benefit Claims #5 – Establishing (and Following) a Good Claims Process

This week we discuss the importance of establishing good claims procedures and the benefits of following those procedures. A plan’s claims procedures should be spelled out clearly in both the plan document and the summary...more

McDermott Will & Schulte

Class Certification Denied in ERISA Health Coverage Lawsuit

A federal district court denied class certification to health plan participants who claimed the plan promised them lifetime benefits. The court found too many individualized questions about what the plan told each...more

Proskauer - Employee Benefits & Executive...

Best Practices in Administering Benefit Claims #4 – Know (and Understand) the Law: Full and Fair Review

This week in our blog series on best practices in administering benefit claims, we discuss the importance of knowing and, importantly, understanding the laws governing benefit claim administration. Section 503 of ERISA...more

Seyfarth Shaw LLP

When An Innocent ERISA Administrator Mistake Can Lead To Money Damages

Seyfarth Shaw LLP on

Synopsis: A recent decision of the federal district court for the Southern District of New York warns ERISA fiduciaries that even innocent mistakes that do not misuse plan assets or unjustly enrich the fiduciaries can cause...more

Foley & Lardner LLP

Summary Plan Descriptions: You Gotta Have Them, So Make the Most of Them

Foley & Lardner LLP on

Administrators of plans subject to ERISA (including plans sponsored by for-profit and nonprofit businesses and organizations) must provide participants and beneficiaries with summary plan descriptions (“SPDs”) describing “the...more

Fisher Phillips

Lessons For Employers From Recent Fiduciary Litigation

Fisher Phillips on

There has been a surge of court decisions over the last year addressing fiduciary liability for welfare benefit plans under the Employee Retirement Income Security Act of 1974 (ERISA). These lawsuits should prompt you to...more

Dickinson Wright

The Top 5 Things to Know if You Are New to 401(k) Benefits Administration

Dickinson Wright on

As an advisor to many 401(k) plan sponsors, I have been asked occasionally what advice I would give to a person who is relatively new to retirement plan administration....more

BCLP

A Mistake a Day: Top 5 401(k) Compliance Mistakes & Best Practices #2

BCLP on

This week, we are discussing the five most common compliance mistakes made by 401(k) plan administrators and fiduciaries, the potential liability associated with such mistakes, and steps you can take to avoid making them...more

Steptoe & Johnson PLLC

Retirement Plans: The Fiduciary Landscape and Best Practices to Avoid Liability for Plan Investments

Steptoe & Johnson PLLC on

The landscape surrounding retirement plans maintained by institutions of higher education has been changing in recent years, although certain critical responsibilities that are imposed on plan sponsors have been in place...more

Epstein Becker & Green

Benefits Litigation Update – Summer 2017

Epstein Becker & Green on

Welcome to the Summer edition of Benefits Litigation Update, brought to you by The ERISA Industry Committee (ERIC) and the law firm Epstein Becker & Green. With a new Administration and executive branch, we are already...more

Stinson - Benefits Notes Blog

A Summary Plan Description Can be a Plan Document

In a decision issued a couple of years ago, the United States Supreme Court held that a summary plan description that differed from the plan document could not be enforced as the plan document. The Court said that the summary...more

Laner Muchin, Ltd.

A Recent Stock Drop Case Reminds Plan Sponsors That Clear Plan Language Is The Primary Defense To Benefit Plan Litigation

Laner Muchin, Ltd. on

Recently, a federal district court in Georgia, on remand from an appellate court, dismissed a suit brought by participants of the SunTrust Bank 401(k) savings plan alleging fiduciary breaches based on defendants’ decision to...more

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