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Hold on to Your (Top) Hat: ERISA Section 502(a)(3) May Be Used to Enforce the Terms of a 'Top-Hat' Benefits Plan
Zuckerman Spaeder LLP 
Sept. 23, 2016 "The court acknowledged that ERISA exempted the administrator of a top-hat plan from certain fiduciary duties, and the higher standard of care typically imposed on an ERISA fiduciary. However, agreeing with the decisions in other cases, the court found those exemptions did not immunize the top-hat plan administrator from all equitable remedies. Rather, 'equitable remedies ... are available for a breach of the general good faith standard of contract law by the plan administrator' of a top-hat plan." [Buster v. Compensation Comm. of the Bd. of Directors of Mechanics Bank, No. 16-01146 (N.D. Cal. Aug. 26, 2016)] MORE >> |
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