Understanding Employee Benefits

It is Always Good to Follow the Plan’s Claims Procedure in Denying a Claim – Part 2

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Some months ago I blogged about an Eighth Circuit Court of Appeals decision involving high ranking executives participating in a company’s long term incentive plan where the executives won their suit under the plan, at least in part, because the employer had not properly followed the plan’s claims procedure. By... Read More

Topics: Deferred Compensation and 409A, ERISA and Other Benefits Litigation

Eighth Circuit Decisions Reminds Employers of Importance of Granting ERISA Plan Administrators Discretion to Interpret Plan Terms

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Recently, the United States Court of Appeals for the Eighth Circuit released an opinion which highlights the importance of ensuring ERISA plan documents grant plan administrators the discretion to construe and interpret the terms of the plan. In Hall v. Metro. Life Ins. Co., the Appeals Court dealt with a... Read More

Topics: ERISA and Other Benefits Litigation

Despite upholding a $13.4 million judgment against plan fiduciaries, the Eighth Circuit gives plan sponsors a lot to like in Tussey decision.

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On March 19, 2014, a three judge panel of the United States Court of Appeals for the Eighth Circuit issued its decision in Tussey v. ABB, Inc., No. 12-2056 (8th Cir. Mar. 19, 2014).  The case came to the Eighth Circuit on an appeal of a decision by the United... Read More

Topics: ERISA and Other Benefits Litigation, Fiduciary Guidance, Retirement Plans

When is a LLC Profits Interest not a Profits Interest? U.S. Tax Court: “When it is a Capital Interest”*

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On December 2, 2013, the United States Tax Court issued its opinion in Crescent Holdings, LLC et al vs. Commissioner, 141 T.C. No. 15 (12/2/13) wherein it examined the tax rules applicable to transfers of partnership interests as compensation. Crescent Holdings, LLC (“Holdings”) was a limited liability company and the... Read More

Topics: Compensation Questions, Deferred Compensation and 409A, ERISA and Other Benefits Litigation, Executive Compensation, Uncategorized

Labor Advises on Fiduciary Treatment of Revenue Sharing Payments

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On July 3, 2013 the Employee Benefits Security Administration issued ERISA Advisory Opinion 2013-03A http://www.dol.gov/ebsa/regs/AOs/ao2013-03a.html (the “AO”) to the Groom Law Group which had submitted a request on behalf of Principal Life Insurance Company (“Principal”). The primary question presented was whether revenue sharing payments received by record-keepers such as Principal... Read More

Topics: ERISA and Other Benefits Litigation, Fiduciary Guidance, Retirement Plans