Attorney's fee awards in ERISA fiduciary breach actions
Article Abstract:
Attorneys fees may be granted by the courts in cases involving breach of fiduciary duties under section 502(g)(1) of the Employment Retirement Income Security Act. Most of the US Courts of Appeal have used the lodestar method, multiplying reasonable hours by a reasonable hourly rate, to calculate fees to be awarded. Most have also followed a five-factor test put forth in the the 10th Circuit's decision of Eaves v. Penn when deciding to award fees, although the factors were meant to guide judges on whether to award fees from pension plans or fiduciaries responsible for breaching their duties.
Publication Name: The Journal of Pension Planning & Compliance
Subject: Human resources and labor relations
ISSN: 0148-2181
Year: 1995
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DOL provides relief for converting collective investment funds to mutual funds by means of an in-kind transfer
Article Abstract:
The US Dept of Labor has released a proposed class exemption that would allow plan assets for which a bank serves as fiduciary to be transferred from collective investment funds to mutual funds. Without the class exemption, these types of in-kind transfers would be considered prohibited transactions because of the banks' fiduciary status. The class exemption will not be as complete as the individual exemptions the Dept of Labor has offered because the exemption is limited to non-bank plans.
Publication Name: The Journal of Pension Planning & Compliance
Subject: Human resources and labor relations
ISSN: 0148-2181
Year: 1997
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The expanding universe of ERISA's duty to disclose
Article Abstract:
Courts are split on the degree to which benefits plan administrators and fiduciaries are subject to the duty to disclose information under the Employee Retirement Income Security Act. Some courts only impose a duty not to mislead, but others impose a duty to inform plan participants and beneficiaries of changes and other material information. There is some evidence that these disclosure duties may even be expanded to include plan investment information.
Publication Name: The Journal of Pension Planning & Compliance
Subject: Human resources and labor relations
ISSN: 0148-2181
Year: 1996
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