Plan’s Trustee Did Not Breach Its Fiduciary Duty, 1st Circuit Affirms

Mealey's (February 26, 2018, 2:16 PM EST) -- BOSTON — The First Circuit U.S. Court of Appeals on Feb. 21 affirmed a lower federal court’s ruling that class action plaintiffs failed to carry their burden to establish that Fidelity Management Trust Co. breached its fiduciary duties pursuant to the Employee Retirement Income Security Act by mismanaging the Fidelity Group Employee Benefit Plan Managed Income Portfolio Comingled Pool (MIP) (James Ellis, et al. v. Fidelity Management Trust Co., No. 17-1693, 1st Cir., 2018 U.S. App. LEXIS 4112)....