"Judge Nelson ruled that the employee payroll deduction health insurance contributions became ERISA plan assets on the dates that the employees' wages were otherwise paid. She further found that the President and CEO, as plan fiduciary, breached his duty of loyalty by failing to remit the plan assets to the plan and using the assets to pay other corporate creditors and personal expenses. The president ... was found to be a fiduciary (and ultimately responsible for the breach) as he controlled the finances of the Company and directed the finance department with respect to the payment of creditors." [Perez v. Harris, No. 12-3136 (D. Minn. Nov. 9, 2015)]  MORE >>