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Report Link Court Finds a Breach of Fiduciary Duty Despite Clear Statement in SPD that Employer Could Amend Retiree Medical Plan.Buchanan Ingersoll & Rooney PC - November 05, 2009 In re Unisys Corporation Retiree Medical Benefits ERISA Litigation, 579 F. 3d 220 (3d Cir. 2009), the fourth decision in the long running Unisys Corporation (Unisys) litigation, held that Unisys breached its fiduciary duty by not informing retirees that Unisys retained the right to change the terms of their retiree medical benefits. In reaching this conclusion, the court rejected Unisys' key arguments that (1) there was no need to inform the individuals of Unisys' right to amend because no amendments were being contemplated at the time, (2) the Summary Plan Description (SPD) Unisys distributed expressly stated that Unisys retained the right to amend the plan, and (3) the injunction compelling Unisys to reinstate the plan without the right to change benefits impermissibly restricted Unisys in its capacity as a settlor. The court reasoned that: in context, Unisys' statements amounted to a misrepresentation; the language in the SPD was irrelevant because Unisys did not distribute the SPD until after the individuals had retired; and the right to equitable relief trumped Unisys' rights as a settlor. Report Link Posting Notice of SPD on Firm Intranet Site may not be Sufficient to Meet ERISA Requirements.Ford & Harrison LLP - July 01, 2008 Employers increasingly rely on electronic methods to communicate with employees, keep them informed of company policies and even to provide them with benefits documents as required by federal law. While this is usually a convenient and rapid method of communicating with employees, especially those working in geographically diverse locations, employers should make sure that they comply with federal regulations when providing notice of certain benefits as required by the Employee Retirement Insurance Security Act (ERISA). Report Link A Stitch in Time Saves Nine: Amending a Misleading Summary Plan Description.Buchanan Ingersoll & Rooney PC - November 01, 2006 The Courts of Appeals for the Second, Third, Fourth, Fifth, Sixth, Seventh, Eighth, Ninth and Tenth Circuits have held that where a summary plan description ("SPD") conflicts with the terms of an employee benefit plan, the summary plan description may control. In Hooven v. Exxon Mobil Corporation, 2006 WL 2988116 (3d Cir. 2006), however, the Court of Appeals for the Third Circuit clarified that employers can avoid this unintended liability by distributing a corrected SPD before the rights vest or accrue or the employee relies to his or her detriment on the mistaken SPD.
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ArticlesFound: 3 ArticlesNO SUBTOPICSEmployment Law Seminars
2010 Ushers In Many Important Changes to Workplace Laws
Columbia
November 20, 2009 Fisher & PhillipsANNUAL EMPLOYMENT LAW UPDATESacramento
December 1, 2009 Shaw ValenzaMonthly Webinar: Preventing Workplace Harassment (California and National)Webinar
December 1, 2009 LittlerCalifornia Legally Required Sexual Harassment Training: It's Never Too Late to ComplySan Francisco
December 1, 2009 Fisher & PhillipsThe Constangy Management Training Center "Employment Law 201"Tampa
December 2, 2009 ConstangyCalifornia Legally Required Sexual Harassment Training: It's Never Too Late to ComplyOntario
December 2, 2009 Fisher & PhillipsAudio Conference: Employee Caregivers Dealing With DementiaAudio Conference
December 2, 2009 Young ConawayClients, Adversaries and Witnesses: The Ethics of Communication in a Fast-Paced Legal World Web CastWebinar
December 4, 2009 Ford & HarrisonTaking Executive Compensation Hostage; What To DoWebinar
December 8, 2009 Baker HostetlerPREVENTING HARASSMENT AND OTHER EEO ISSUES AT WORK: IT’S ALL ABOUT RESPECT (AB 1825 COMPLIANCE)Sacramento
December 9, 2009 Shaw Valenza |
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