Featured Jobs
|
3(16) Retirement Plan & Customer Liaison Compass
|
|
Spectrum Pension Consultants (part of Daybright Financial)
|
|
BPAS
|
|
Retirement Plan Administrator (Part-Time) Accelefund, Inc.
|
|
Participant Services & Operations Coordinator Pentegra
|
Free Newsletters
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
|
|
|
John Hancock Dodges ERISA Class Action
The Lowenbaum Partnership and FRA PlanTools 
Sept. 30, 2014
"The cases are holding with few exceptions that the functional fiduciary test under 3(21)(A)(i) must show that the fiduciary actually exercised their discretion. In decisions in favor of AUL and John Hancock, the plaintiffs were unable to show that. In decisions against Transamerica, MassMutual, and ING, the plaintiffs were able to either show the exercise of discretion or that it was a issue of fact for trial.... The open question from these cases is whether 3(21)(A)(iii) requires the actor to actually exercise their discretion or not, i.e. it's a fiduciary breach to be both malfeasant and nonfeasant."
|
| 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). |