Loan & Distribution Specialist AimPoint Pension
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AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Bates & Company, Inc.
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Compass
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Court Declines to Enforce Indemnification Provision Against Allegedly Negligent PBM
Thomson Reuters / EBIA July 3, 2019
"After reviewing the specific contractual language and applying the applicable state contract construction laws required by the agreement, even viewing the situation in the light most favorable to the plan sponsor, the court held that the PBM's interpretation was objectively plausible, as compared to the overly broad reading argued by the plan sponsor.... [T]he court concluded that [the plan sponsor's] interpretation would have required it to read in a missing comma after '(Costs)' and to reach an unreasonable conclusion: Total indemnification by the PBM." [Bon Secours Health System, Inc. v. Express Scripts, Inc., No. 18-1545 (D. Md. Mar. 28, 2019)]
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