Mercer Select US - Creating the impression of lifetime retiree health benefits is breach of ERISA’s fiduciary duties

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Creating the impression of lifetime retiree health benefits is breach of ERISA’s fiduciary duties

An employer breached ERISA’s fiduciary duties by giving employees the impression that retiree health benefits would continue for life when, in fact, the company had the power to eliminate them at any time, ruled the Third Circuit Court of Appeals (In re: Unisys Corp. Retiree Med. Benefits ERISA Litig.). The court said the message to employees during retirement counseling was “at best a half truth” without mention of the company’s right to amend the plan. The latest decision in this protracted litigation reminds employers not to overpromise in retiree health or any benefit communications. (Select News, 19 Oct 2009)

Full text of Third Circuit's decision (19 Oct 2009) (PDF)

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