Tag Archives: Employee Retirement Income Security Act of 1974

SCOTUS Opinion: Beneficiaries Receiving Full Benefits Have No Standing To Challenge ERISA Plan Governance

U.S. Bank maintains a retirement plan for its employees. Two of those beneficiaries, who had retired, were entitled to a fixed payment each month, and received every such payment. Regardless, they sued their former employer under the Employee Retirement Income Security Act of 1974, arguing that the plan had been mismanaged and should be re-payed about $750 million. The Eighth ... Read More

SCOTUS Opinion: Court Strictly Interprets “Actual Knowledge” For ERISA Limitations Period

Under the Employee Retirement Income Security Act of 1974, a person with “actual knowledge” of an alleged fiduciary breach by the administrator of a pension plan must file suit within three years of gaining such knowledge—otherwise, a six-year limitations period applies. In Intel Corp. Investment Policy Committee v. Sulyma, Intel argued that its former employee filed such a claim ... Read More

SCOTUS Opinion: ERISA Case Remanded To Consider Alternative Arguments

Retirement Plans Committee of IBM v. Jander concerned a claim by Employee Retirement Income Security Act of 1974 (ERISA) plan beneficiaries that the fiduciaries in control breached their duty of prudence on the basis of insider information. The standard for stating such a claim had been previously set forth by the Court in Fifth Third Bancorp v. Dudenhoeffer, ... Read More