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Secretary of Labor Files Brief in Support of 'Surcharge' for Fiduciary Breaches
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May 9, 2010
"[Hilda L. Solis] filed an amicus curiae brief with the 4th U.S. Circuit Court of Appeals supporting the remedy of awarding plan participants a 'surcharge' to recover monetary damages for fiduciary breaches.... Solis continued that it is 'hard to imagine' that Congress would have left participants and beneficiaries without an effective remedy against fiduciaries who have committed serious violations of ERISA's provisions[.]"
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