ERIC Urges Supreme Court to Apply Presumption of Prudence in Plans with Company Stock

Washington, D.C. – The ERISA Industry Committee (ERIC) on February 3 filed (with other trade associations) with the U.S. Supreme Court an amicus brief in the Fifth Third Bancorp v. Dudenhoeffer case, urging the Court to apply the presumption of prudence at the pleading stage of a lawsuit.   ERIC’s brief was prepared by Proskauer Rose LLP.  …

ERIC and Other Trade Groups Write to Treasury on Retroactive Effect Issues in Windsor Decision

There are numerous and complex administrative issues associated with the potential retroactive application of the U.S. Supreme Court’s decision in U.S. v. Windsor with respect to same-sex couples benefits. To that end, ERIC has joined with 13 other business trade associations in a letter asking the Treasury Department to use its authority under Internal Revenue Code section …

ERIC Submits Additional Information on Reportable Events Hearing to PBGC

ERIC has submitted a letter to the Pension Benefit Guaranty Corporation (PBGC) in response to questions posed by the PBGC at the recent hearing on the reportable events proposed regulations. A special thanks to Michael Francese of Covington & Burling, who testified on behalf of ERIC and provided valuable input on the follow-up letter. This …

U.S. Supreme Court Rules in Favor of Xerox on Deferential Standard of Review

The United States Supreme Court earlier today (April 21) in Conkright v. Frommert reversed a Second Circuit Court of appeals decision and upheld the plan administrator’s deferential standard of review of provisions of a plan. The issue, and the case, is of major importance to major employers. In its 5-3 opinion (Justice Sotomayor did not participate) by …