Featured Jobs
|
Retirement Combo Plan Administrator Heritage Pension Advisors, Inc.
|
|
Distributions Processor - Qualified Retirement Plans Anchor 3(16) Fiduciary Solutions, LLC
|
|
Defined Benefit Specialist II or III Nova 401(k) Associates
|
|
Retirement Plan Termination Specialist Compass
|
|
Merkley Retirement Consultants
|
|
July Business Services
|
|
Nova 401(k) Associates
|
|
DWC ERISA Consultants LLC
|
|
The Pension Source
|
|
EPIC RPS
|
Free Newsletters
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
|
|
|
|
District Court Finds Concealment of Administrative Fees for Self-Insured Plan Breaches Fiduciary Duties and Triggers 6-Year Statute of Limitations (PDF)
U.S. District Court for the Eastern District of Michigan
May 27, 2013
"[Blue Cross and Blue Shield of Michigan] also violated its fiduciary duty ... to disclose information to the Plaintiffs about its compensation, which necessarily included information about the Disputed Fees, even if [the plan sponsor] did not make a specific request for information.... BCBSM determined its own administrative fees by acting unilaterally with respect to the Disputed Fee; this type of self-dealing is a per se breach of [ERISA] Section 1106(b)(1).... Plaintiffs prove that BCBSM actively concealed their knowing misrepresentations and omissions in the contract documents in order to allay Plaintiffs' suspicion and prevent inquiry into Disputed Fees. [T]hey are entitled to damages from 1994 through 2011." [Hi-Lex Controls v. Blue Cross and Blue Shield of Michigan, No. 11-12557 (E.D. Mich. May 23, 2013)]
|
| Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
| An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |