9th Circuit Denies Rehearing On Overestimated Benefits Statements Case

Mealey's (July 12, 2021, 1:13 PM EDT) -- PASADENA, Calif. — The Ninth Circuit U.S. Court of Appeals on July 9 denied review in a case in which the U.S. Department of Labor (DOL) had urged rehearing, letting stand its panel decision that “[c]alculation of benefits pursuant to a formula is not a fiduciary function” and, therefore, Employee Retirement Income Security Act claims regarding overestimated pension benefit statements failed....