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Court Penalizes Employer $41,140 for Failure to Timely Provide Plan Documents
Haynes and Boone, LLP Oct. 8, 2019 "The documents were not provided until 748 days after the ERISA-required 30-day period to provide documents had expired, and then only in response to a lawsuit claiming an ERISA fiduciary breach for misappropriating employee contributions. The federal district court assessed a penalty of $55 per day ... a penalty determined by the court to reflect 'both the egregiousness of the [plan administrator's] misconduct as well as the extraordinary length of delay.' " [Kinsinger v. SmartCore, LLC, No. 17-643 (W.D.N.C. Aug. 27, 2019)] |
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