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

Featured Jobs

Regional Vice President of Sales

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

The Retirement Plan Company logo

Retirement Plan Administrator

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

Bates & Company, Inc. logo

Business Development Director

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

AimPoint Pension logo

Loan & Distribution Specialist

AimPoint Pension
(Remote)

AimPoint Pension 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

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

Illinois District Court Dismisses Claim for Disgorgement of Profits (PDF)
U.S. District Court for the Northern District of Illinois Link to more items from this source
May 1, 2014
"Numerous courts in this district agree that a plaintiff cannot pursue a claim under ERISA Section 502(a)(3) if a claim for benefits is available under Section 502(a)(1)(B).... The Court further notes that the Sixth Circuit recently granted rehearing en banc and vacated a panel opinion upholding the district court's award of disgorged profits of $3.8 million under Section 502(a)(3). [Rochow v. LINA] ... Sexton's attempt to characterize the disgorgement of profits in this case as an equitable remedy separate and distinct from the remedy available under Section 502(a)(1)(B) is unavailing.... 'ERISA specifically provides a remedy for breaches of fiduciary duty with respect to the interpretation of plan documents and the payment of claims.' ... Because Section 502(a)(1)(B) provides Sexton with her remedy, the Court discerns no basis for allowing her to proceed with Count II." [Sexton v. Standard Insurance Co., No: 13-C-77 (N.D. Ill. Apr. 30, 2014)]

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.