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Sixth Circuit: Employer Breached Fiduciary Duty by Issuing Inaccurate SPD and Disability Insurer Breached Its Duty by Denying Benefits Described in It
The Wagner Law Group Apr. 23, 2015 "[The Sixth Circuit] ruled that the employer (i) functioned as an ERISA fiduciary when it prepared and furnished the LTD plan's SPD to participants, and (ii) breached its fiduciary duty by furnishing the participant with a misleading SPD.... [T]he court confirmed that the insurer had a fiduciary duty to the plaintiff ... [and] had breached its fiduciary duty by interpreting the plan in a manner that served its own financial interests and was contrary to the representations made in the SPD. " [Stiso v. International Steel Group, No. 13-3503 (6th Cir. Mar. 25, 2015)] |
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