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Category: Pension Plans

Your ERISA Watch – First Circuit Joins Circuit Split; Adopts Burden-Shifting Approach in Breach of Fiduciary Duty Cases

This week’s notable decision is Brotherston v. Putnam Investments, LLC, No. 17-1711, __F.3d__, 2018 WL 4958829 (1st Cir. Oct. 15, 2018), which involves a class action alleging breach of fiduciary duty with respect to the selection of imprudent investment options…

Your ERISA Watch – Pension Plan Participants Cannot Seek Disgorgement of Post-Termination Investment Gains Resulting from PBGC’s Alleged Fiduciary Breach

Today’s notable decision is the D.C. Circuit decision in Lewis, et al. v. Pension Benefit Guaranty Corporation, No. 17-5068, _F.3d_, 2018 WL 4000484 (D.C. Cir. Aug. 21, 2018). The gist is that Delta and the PBGC agreed to terminate the…

Your ERISA Watch – Sixth Circuit Holds that Contra Proferentum and Firestone Deference Are Incompatible on Issues of ERISA Plan Interpretation

The Sixth Circuit is back in the news.  This week’s notable decision is Clemons v. Norton Healthcare Inc. Ret. Plan, No. 16-5063, __F.3d__, 2018 WL 2142640 (6th Cir. May 10, 2018), an upset to the Plaintiff-Retirees who had prevailed on…

Your ERISA Watch – Expectation of Future Salary Increases Is Not An “Accrued Benefit” for Purposes of Anti-Cutback Rule

This week’s notable decision is Teufel v. Northern Trust Co., No. 17-1676, __F.3d__, 2018 WL 1734700 (7th Cir. Apr. 11, 2018).  In Teufel, the Seventh Circuit considered whether an amendment to the Northern Trust pension plan decreased Teufel’s accrued benefit…

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