Updates? contact Mark Poerio @ LinkedIn. Executive Compensation Alerts here.
2014.Oct.30 Employer Stock Drop: ERISA Fiduciary Breach Claims Viable re SEC Filings (9th Cir.)
If a plan administrator chooses to incorporate SEC filings into a plan's summary plan description (SPD), that is a fiduciary act, and may support ERISA misrepresentation claims based on the detrimental reliance by plan participants on fiduciary statements made in the employer's SEC filings . . . continued at Employer Stock Drop Litigation.
2014.Oct.06 Plan Claims - Limitations Period Enforced (Object Lesson)
Suppose an SPD sets forth a limitations period within which participants must bring claims for benefits. Whether or not that gets enforced mainly depends on (1) incorporating it into the plan document, and (2) not . . . continued at Internal Statutes of Limitations.
2014.Aug.15 WARN Claims Revived vs MFGlobal
Per Law360, a New York federal judge has reinstated a claims by former employees that MF Global Holdings violated the federal and New York WARN acts, holding that the Southern District’s bankruptcy court erred in dismissing the case. See generally WARN & Bankruptcy.
2014.July.26 Updated Research -- see: Controlled Group and Stock Options.
2014.July.11 M&A Severance Payable despite No Job Loss (Plan Drafting Critical)
In Adams v. Anheuser-Busch, the 6th Circuit overturned the denial of severance pay to continuing employees because the seller's plan promised benefits to those "whose employment with the Controlled Group is involuntarily terminated." The court rejected the plan administrator's argument that the plan was ambiguous, . . . continued at Severance Plan Litigation.
2014.July.8 PBGC Moratorium on ERISA 4062(e) Enforcement. The PBGC has issued a news release announcing this moratorium through the end of 2014. Further discussion at PBGC 4062(e).
Other Notable Updates:
2013.Dec.26 HIPAA Settlement Agreement - see HIPAA Litigation.
2013.Dec.13 Employer "Stock Drop" Litigation - Supreme Court to Address: see Stock Drop Litigation; see also Stock Drop Litigation Results (for Judgments and Settlements).
2013.Nov.20 Coverage for Defense Costs during DOL Investigations? See Fiduciary Defense and Indemnification.
2013.Nov.01 IRS COLA $$$for 2014: see Plan Limits.
2013.July.6 COBRA Procedural System Insights . . . for less than $1.85 Million: see COBRA Litigation.