I blogged a few days ago about the U.S. Supreme Court decision making it harder for plans to recover from a third-party settlement fund for the amount the plan paid when a participant is injured by that third-party. A recent federal district court decision highlights the need to provide appropriate notice of the plan’s reimbursement/subrogation
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US Supreme Court
Time to Review Plan Subrogation Procedures
By Stinson LLP on
Most self-funded ERISA medical plans provide that participants who have been injured by other people (think car accidents) must reimburse the plan if the participant recovers from the other person for those injuries. In order to obtain that reimbursement, a plan document must contain appropriate reimbursement/subrogation language and the plan must pay attention to the…
Supreme Court: 401(k) Plan Fiduciaries Have an Ongoing Duty to Monitor
By Jeffrey Cairns on
In April 2013 I reported on the 9th Circuit Court of Appeals decision in Tibble v. Edison International, which involved an alleged breach of fiduciary duty by the Edison 401(k) Savings Plan committee selecting six retail mutual funds when institutional share classes were available.
In the 2013 decision, the 9th Circuit Court of Appeals…