Coronavirus (COVID-19) News and Resources
Coronavirus (COVID-19) Webcasts
Subscribe to Free Daily Newsletters
Post a Job

Featured Jobs

Enrolled Actuary
Loren D. Stark Company logo
Loren D. Stark Company
(Telecommute)
ESOP Valuation Writer
Unique ESOP Valuation Provider
(Telecommute)

Free Daily News and Jobs

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

-- An attorney subscriber

Get the BenefitsLink app LinkedIn
Twitter
Facebook

<< Previous news item   |   Next news item >>



First Circuit Decision on Use of Retained Asset Accounts to Pay Life Insurance Benefits Could Have Broader Implications
BakerHostetler Link to more items from this source
July 21, 2014
"Conventional wisdom holds that ERISA's protections, and ERISA's daunting fiduciary and conflict of interest requirements, all cease to apply at the point at which the promised 'benefit' gets delivered.... [This case] adds support to the view that, so long as the benefit being promised clearly can consist of an account (rather than cash or its equivalent), delivery is complete when control over the account is delivered. That principle may well crop up in other contexts involving other types of ERISA plans, such as when employer stock (or perhaps an annuity contract) come to be distributed from a 401(k) plan or a similar savings plan." [Merrimon v. Unum Life Insurance Co. of America, No. 13-2128P-01A (1st Cir. July 2, 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 link above).
An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified).
© 2020 BenefitsLink.com, Inc.