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Second Circuit Upholds Three-Year Limitation Period in Plan Document
ERISA Fiduciary Guidebook 
[Guidance Overview] July 13, 2009
Excerpt: In an era when lawsuits appear to be targeting fiduciaries, one of the areas that is becoming more important for fiduciaries is the practice of implementing steps to reduce litigation risk. One such practice which has been challenged and upheld in the courts is the inclusion of a limitation period in the documents governing the plan. The limitation period provision limits the period of time during which a participant or beneficiary can bring suit. The idea behind such limitation periods is to protect fiduciaries so that they are not subjected to a risk of lawsuit any longer than they have to be under the law.
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