Spence v. American Airlines: Expanding the Playing Field for Fiduciary Liability?
A federal court in Texas has ruled that American Airlines breached its duty of loyalty under ERISA by failing to respond to activities undertaken by a plan investment manager (BlackRock) supporting ESG initiatives. The court was unable to find a breach of prudence—rather it relied solely on the obligation of “loyalty.”
View Post
Birds of a Feather?
The DOL has issued new guidance narrowing the circumstances under which a group of unrelated employers can come together and create a group health care plan.