Peter Gulia Posted October 8, 2014 Share Posted October 8, 2014 Does anyone know about any court decision that found an actuary was a plan fiduciary, or at least that a complaint sufficiently alleged that an actuary was a plan fiduciary? Peter Gulia PC Fiduciary Guidance Counsel Philadelphia, Pennsylvania 215-732-1552 Peter@FiduciaryGuidanceCounsel.com Link to comment Share on other sites More sharing options...
Peter Gulia Posted October 9, 2014 Author Share Posted October 9, 2014 Has ASPPA published anything about this? Peter Gulia PC Fiduciary Guidance Counsel Philadelphia, Pennsylvania 215-732-1552 Peter@FiduciaryGuidanceCounsel.com Link to comment Share on other sites More sharing options...
Lou S. Posted October 9, 2014 Share Posted October 9, 2014 I'm not aware of that having happened. The most recent court case (or discussion of) that I found actuaries to NOT be fiduciaries. This was from last year. http://actuarylaw.com/post/61401708983/actuaries-are-not-fiduciaries-and-thats-a-good-thing That's not to say a different court might take a different view in the future. Link to comment Share on other sites More sharing options...
My 2 cents Posted October 9, 2014 Share Posted October 9, 2014 There have been court cases where actuaries were found liable for malpractice, which is different from a fiduciary violation. Always check with your actuary first! Link to comment Share on other sites More sharing options...
mbozek Posted November 17, 2014 Share Posted November 17, 2014 Actuaries can only be liable for malpractice if they are considered to be professionals under state malpractice law. Professionals include doctors, lawyers and accountants. In NY actuaries are not considered to be professionals so they can be sued for breach of contract which has a 6 year statute of limitations instead of the shorter 3 year s/l for malpractice. mjb Link to comment Share on other sites More sharing options...
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