Entities With Any Control Are ERISA Fiduciaries: 6th Circ.

Law360, New York (August 20, 2012, 4:26 PM EDT) -- The Sixth Circuit found Monday that the plain language of the Employee Retirement Income Security Act confers fiduciary status on any entity that controls plan funds, affirming a lower court decision in a breach of contract suit brought by various companies against a benefits administrator.

In a published opinion covering two separate appeals, the Sixth Circuit found that Professional Benefits Administrators Inc. had in fact breached its fiduciary duty when it used ERISA funds for its own purposes, causing hundreds of thousands of dollars worth of...
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