Life Insurer Is Not A Fiduciary Under ERISA, Federal Judge Says, Dismisses Lawsuit

Mealey's (November 6, 2017, 12:11 PM EST) -- OMAHA, Neb. — A Nebraska federal judge held Oct. 26 that a life insurer is not a fiduciary of 401(k) Plan under the Employee Retirement Income Security Act and, as a result, cannot be held liable for breach of a fiduciary duty or for engaging in transactions that are prohibited to fiduciaries (Philip J. Insinga v. United of Omaha Life Insurance Company, No. 17-179, D. Neb., 2017 U.S. Dist. LEXIS 178753)....