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ERISA Deference: No Exceptions
Much of the federal litigation brought pursuant to the Employee Retirement and Income Security Act of 1974 (“ERISA”) involves efforts by the beneficiaries of ERISA-regulated employee benefit plans to overturn benefits decisions of the plans' administrators. One recent study found that 65% of ERISA lawsuits in the federal court system involve claims of interference with plan benefits. Pension Governance, Inc. and the Michel-Shaked Group, ERISA Litigation Study (2009), available at www.pensionlitigationdata.com/news.php.
The standard of review that a court applies to such benefit decisions can have a significant impact on the beneficiary's chances of success in the lawsuit. If the court reviews the decision de novo, then it may effectively ignore the interpretation of the ERISA plan performed by the plan administrator and independently review the plan in order to make a benefits determination. See Aetna Health Inc. v. Davila, 542 U.S. 200, 210 (2004). At the other end of the spectrum of review standards, if the reviewing judge is compelled to apply a deferential standard of review to the decision of the plan administrator, then the judge is restricted to reviewing the decision for an abuse of discretion, and must uphold any reasonable interpretation of the ERISA plan offered by the plan administrator. McCauley v. First Unum Life Ins. Co., 551 F.3d 126, 133 (2d Cir. 2008).
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.