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Seventh Circuit Affirms Dismissal of Claims Seeking Roll Over of Accounts in Multiemployer Defined-Contribution Plan
Roberts Disability Law Aug. 17, 2022 "The court also found that the trustees and the plan administrator did not violate their ERISA fiduciary duties by not amending the Plans to allow rollovers.... The court rejected Plaintiffs' alternative theory that ERISA Section 4235 requires a plan to transfer assets when an employer withdraws as a result of a change in the bargaining representative. This provision does not apply to defined-contribution plans.' [Dean v. Nat"l Prod. Workers Union Severance Tr. Plan, No. 21-1872 (7th Cir. Aug. 15, 2022)] |
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