Subscribe (Free) to
Daily or Weekly Newsletters
Post a Job

Featured Jobs

Retirement Plan Administrator

Bates & Company, Inc.
(Remote / Winter Park FL)

Bates & Company, Inc. logo

Loan & Distribution Specialist

AimPoint Pension
(Remote)

AimPoint Pension logo

Regional Vice President of Sales

The Retirement Plan Company
(Remote / AL / FL / GA / MS)

The Retirement Plan Company logo

Defined Benefit Combo Cash Balance Compliance Consultant

Loren D. Stark Company (LDSCO)
(Remote)

Loren D.  Stark Company (LDSCO) logo

Director of 3(16) Operations

Compass
(Remote / NH / Hybrid)

Compass logo

Business Development Director

AimPoint Pension
(Remote / Pompano Beach FL / AL / GA)

AimPoint Pension logo

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile app icon
LinkedIn icon     Twitter icon     Facebook icon

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 Link to more items from this source
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).
© 2024 BenefitsLink.com, Inc.