United States First Circuit

In a class action brought under the Employee Retirement Income Security Act (ERISA), arising out of defendant-insurer's redemption of claims on ERISA-regulated life insurance policies through the establishment of retained asset accounts (RAA), the district court's judgment is: 1) affirmed in part, where the defendant-insurer's use of RAAs in the circumstances of this case did not constitute self-dealing in plan assets; but 2) reversed in part, where the defendant-insurer's use of RAAs did not breach any duty of loyalty owed by the insurer to the plaintiff class.

Appellate Information

• Decided 07/02/2014
• Published 07/02/2014

Judges

• SELYA

Court

• United States First Circuit

Counsel