ERISA, STATUTE OF LIMITATIONS

[Guest ericdavis009]

Is there a Statute of Limitations when it comes to the Trustee collecting overpayment of DB to participants?

[Belgarath]

The following is just a starting point. I am NOT!! an attorney, and I only know enough about this to recommend that you consult legal counsel. But maybe this will help you a little bit to get started.

ERISA Itself - 29 U.S. Code 1113: No ERISA claim may be commenced after the earlier of --

(1) six years after the last action constituting a breach of ERISA duty, or the latest date on which a fiduciary could have cured a breach arising from an omission; or

(2) three years after the earliest date in which the plaintiff had actual knowledge of the breach or violation.

"Actual Knowledge" requires proof that plaintiffs know both the events that constitute the ERISA breach or violation, and that those events constituted an ERISA claim. Montrose Med. Group v. Bulger, 243 F. 3d 773, 787 (3d Cir. 2001).

[KJohnson]

Be careful, the cite given by Begarath is for fiduciary breach only. For many other ERISA actions the limitations period selected is the most analagous state law limitations period. My recollection is that this applies for benefit overpayments as well but I haven't gone back and looked.

[Belgarath]

Thanks Kurt. (It is Kurt isn't it? I Apologize if not) And here's a link to a case where there's actually some discussion of the statute of limitations, which agrees with what you said.

http://sunset.backbone.olemiss.edu/~llibco...P.html#Footref2

[Guest ericdavis009]

First of all thank you for your help...The next part is "How much can the Fiduciary withhold from the payment until the overpayment is fullfilled?" The PBGC actually has these guidlines in place, but they are not following any specific regulations.

[GBurns]

Where did you see these PBGC guidelines?