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Second Circuit Holds Taft-Hartley Funds Are Inherently Conflicted
Proskauer Rose LLP [Guidance Overview] June 30, 2010 Excerpt: On June 24, 2010, the U.S. Court of Appeals for the Second Circuit held, in Durakovic v. Building Service 32 BJ Pension Fund, ... that Taft-Hartley funds (administered by boards of trustees consisting of an equal number of union and employer representatives) are inherently conflicted when making benefit determinations, and that this conflict needs to be considered by federal district courts when reviewing plan determinations under an arbitrary and capricious standard of review. |
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