Day: December 6, 2017
Flu Season To Be Historic?
America is set to endure one of the most perilous flu seasons in years – with doctors warning it could be similar to the deadly 2014 outbreak.
DELUCA v. BLUE CROSS BLUE SHIELD OF MICH. – Plan Sponsors Beware!
Plan sponsors and their administrators are increasingly at risk of legal exposure for breach of fiduciary duties. This lawsuit is an early example. Experts in our industry suggest more to come, rivaling the potential to earn more in legal fees that will make the famous Tobacco Settlement look like peanuts.
The weapon of choice of plaintiff’s attorneys is:
Section 502(a) (2) of ERISA authorizes a beneficiary to bring an action against a fiduciary who has violated Section 409. Massachusetts Mutual Life Ins. Co. v. Russell, 473 U.S. 134 , 140, 105 S.Ct. 3085, 3089, 87 L.Ed.2d 96 (1985). The Supreme Court explained in Russell that “[a] fair contextual reading of the statute makes it abundantly clear that its draftsmen were primarily concerned with the possible misuse of plan assets, and with remedies that would protect the entire plan, rather than with the rights of an individual beneficiary.”
Continue reading DELUCA v. BLUE CROSS BLUE SHIELD OF MICH. – Plan Sponsors Beware!