AimPoint Pension
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Loan & Distribution Specialist AimPoint Pension
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Compass
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Potential Erosion of the Distinction Between Benefits Denials and Breach of Fiduciary Duty Under ERISA in the Tenth Circuit
Wilson Elser July 24, 2015
"The Tenth Circuit has historically disallowed a participant's or beneficiary's claim for breach of fiduciary duty pursuant to Section 502(a)(3) when ERISA provides for another adequate remedy, such as recovery of improperly denied benefits pursuant to Section 502(a)(1)(B).... In [one recent case], however, the district court allowed a plan participant to amend his complaint to include a breach of fiduciary duty based on the claim fiduciary's alleged failure to consider an expert report that was submitted just one day before its final decision denying benefits was issued ... the claim fiduciary argued it was futile given that the breach of fiduciary duty claim was based on a wrongful denial of benefits, and therefore subject to dismissal. The district court allowed the amendment, reasoning that the breach of fiduciary duty cause of action could be asserted as an alternative claim for relief." [Faltermeier v. Aetna Life Ins. Co., No. 15-CV-2255-JAR-TJJ (D. Kan. May 28, 2015)]
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