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Amicus Brief to Tenth Circuit Supporting AT&T Appeal Effort in Recordkeeping Claims Case (PDF)
The ERISA Industry Committee [ERIC], American Benefits Council, Society of Professional Asset Managers and Recordkeepers [SPARK] and Committee on Investment of Employee Benefit Assets [CIEBA] 
[Opinion] Sept. 12, 2023 37 pages. "The panel's decision renders standard and ubiquitous contracts in American retirement plans presumptively unlawful.... The panel's decision will open the floodgates to speculative recordkeeping claims.... Allowing claims that all re-negotiations of service provider agreements are prohibited transactions unless proven otherwise will have far-reaching negative consequences for plan sponsors, fiduciaries, and participants.... The panel's interpretation of ERISA's text did not consider the entirety of Section 406." [Bugielski v. AT&T Servs., Inc., No. 21-56196 (9th Cir. Aug. 4, 2023; pet. for rehearing filed Sep. 1, 2023)] MORE >> |
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