Bloomberg BNA's Pension & Benefits Blog is a special resource offered by Bloomberg BNA to provide commentary and insight on news and trends reported in our publications: Pension & Benefits Daily, Pension & Benefits Reporter, and the Benefits Practice Resource Center. The authors of the blog are members of our Benefits Practice Resource Advisory Board and members of staff (who contribute summaries of some of their recent stories).
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February 19, 2014
by Jacklyn Wille
Plan fee litigation had a
big year in 2013, with divisive appellate court decisions affecting standards
of judicial review, statutes of limitations and functional fiduciary status
that may open the door for increased and novel litigation, employee benefits
attorneys said during a conference panel presentation.
January 23, 2014
Several U.S. Supreme Court rulings
broke new ground for employee benefits in 2013, and decisions in 2014 are also
expected to push these issues into new territory. In addition to its landmark
ruling recognizing same-sex marriage under federal law, the U.S. Supreme Court
also issued two significant opinions under the Employee Retirement Income
Security Act in 2013—one involving contractual limitations periods, and the
other involving Section 502(a)(3)'s equitable remedies provision.
December 2, 2013
Supreme Court should strike down the pro-fiduciary presumption of prudence that
some federal courts have used to shield fiduciaries of employer stock plans
from liability for declining share value, the U.S. solicitor general said in a
brief filed with the high court.
October 16, 2013
considering the date on which a disability plan's contractual limitations
period begins to run, the U.S. Supreme Court justices questioned attorneys on a
wide range of issues, including federal law preemption, equitable doctrines,
potential harm and the purpose of the Employee Retirement Income Security Act's
administrative exhaustion requirement.
June 27, 2011
by Andrew L. Oringer
Is CIGNA v. Amara (50 EBC 2569), the recent ERISA case from the U.S. Supreme Court, a major development? Notwithstanding the lack of surprise in the final result, the Court's rationale looks to be extremely important.
April 14, 2011
by Greta E. Cowart
The U.S. Seventh Circuit Court of Appeals issued its opinion in George v. Kraft Foods Global Inc. earlier this week impacting fiduciaries to defined contribution retirement plans such as 401(k) plans and other defined contribution plans (see 70 PBD, 4/12/11).
October 2, 2010
With all the cases and articles swirling around the question of when there is a fiduciary duty to stop acquiring or to dispose of employer securities, and the recent oral arguments on the point before the Second Circuit, I'd like to set out a possible analytical framework, as follows:
May 25, 2010
The Supreme Court's decision in Hardt v. Reliance Standard should have been a reason to celebrate for participants and their lawyers (99 PBD, 5/25/10). The simple holding, that you don't have to be a prevailing party before a court can exercise its discretion to grant attorney's fees is unexceptionable. Their were no dissents. But the court seemed to be at pains to tie the decision to its facts. The participant was granted benefits by the plan on the remand. Did that matter?
May 5, 2010
Heart of my Hardt. I love that mel-o-dy.
April 26, 2010
"People make mistakes." Hand it to the Chief Justice, he's got an ear for a catch phrase. As BNA summarized the holding: "Employee Retirement Income Security Act plan administrators will not be stripped of deferential review by federal courts when they make a "single honest mistake" in administering and interpreting plans...." ( Conkright v. Frommert, U.S., No. 08-810, 4/21/10).
December 12, 2008
The insolvency (whether or not in Chapter 11 reorganization) of the three automakers brings “legacy costs” back to the center stage of ERISA cutback negotiation and litigation.
September 30, 2008
Today's decision on the merits by the 9th Circuit in the Golden Gate Restaurant Association v. San Francisco case upholding the employer spending requirements of the San Francisco ordinance as not preempted by ERISA is a most interesting read.
Fourth Circuit: No Deferential Review Despite Plan's ‘Satisfactory to Us' Language
IRS Not Out to Trap Employers That Make Plan Adjustments Post-Windsor, Official Says
Treasury Tackling Final Issues Under the ACA, Agency Official Says
Solicitor General Asks High Court to Strike Pro-Fiduciary Presumption of Prudence
DOL Lists Fiduciary Re-Proposal, Project On Brokerage Windows on Regulatory Agenda