3rd Circ. Upholds Insurer's Win In Death Benefits Suit

Law360, New York (August 7, 2013, 7:30 PM EDT) -- The Third Circuit ruled Wednesday that Lincoln National Life Insurance Co.'s use of retained asset accounts to pay its beneficiaries doesn't run afoul of the Employee Retirement Income Security Act, saying in a precedential decision that Lincoln didn't breach its fiduciary duties.

A three-judge panel affirmed a lower court's decision granting summary judgment to Lincoln, saying Lincoln did not breach its fiduciary duties under ERISA when it chose to pay plaintiff Connie Edmonson's benefits through a retained asset account or when it later invested the retained...
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