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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Loan & Distribution Specialist AimPoint Pension
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Compass
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Regional Vice President of Sales The Retirement Plan Company
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Seventh Circuit Permits Equitable Relief for Fiduciary Breach When Incorrect Coverage Information Provided by Call Center (PDF)
U.S. Court of Appeals for the Seventh Circuit June 14, 2013 "[After Cigna v. Amara, we] can now comfortably say that if [the participant] is able to demonstrate a breach of fiduciary duty ... and if she can show that the breach caused her damages, she may seek an appropriate equitable remedy including make-whole relief in the form of money damages.... If the plan documents are clear and the fiduciary has appropriately trained staff to field inquiries, a fiduciary will not be held liable if a ministerial, non-fiduciary agent has given incomplete or mistaken advice to an insured.... But if the documents are ambiguous or incomplete on a recurring topic, a fiduciary may be liable for mistakes that representatives make in answering questions on that subject." [Kenseth v. Dean Health Plan, No. 11-1560 (7th Cir. June 13, 2013)] |
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