"The court made the following rulings ... [1] The decision to annuitize was not a fiduciary act.... [2] The possibility of annuitization was not required to be disclosed in the [SPD].... [3] Participant consent was not required for annuitization of their benefits.... [4] Section 510 of ERISA ... was not violated merely because the plaintiffs did not have rights to continued plan participation, ERISA coverage or PBGC insurance.... [5] Paying $1 billion in fees and expenses as part of the $8.4 billion annuitization was not a fiduciary breach.... [6] It was not imprudent to purchase one group annuity contract from Prudential rather than from multiple insurers." [Lee v. Verizon Comm. Inc., No. 14-10553 (5th Cir. Aug. 17, 2015)]  MORE >>