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Beneficiary May Sue Trustees of One ERISA Plan for Fiduciary Breaches Causing Loss of Benefits under Another ERISA Plan
The Wagner Law Group June 27, 2019 "The trial court explained that Amara extended the surcharge remedy to a breach of trust committed by a fiduciary for any violation of fiduciary duty. Next, the trial court found that nothing in the Welfare Fund Trust Agreement prohibits the imposition of a surcharge on the Welfare Fund's trustees. The trial court noted that the Trust Agreement explicitly authorized the use of trust funds to indemnify its trustees." [DeRogatis v. Bd. of Trustees of the Welfare Fund of the Int'l Union of Operating Engineers Local 15, 15A, 15C & 15D, AFL-CIO, No. 14-8863 (S.D.N.Y. June 13, 2019)] |
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