7th Circuit:  Retirement Plan Arbitration Clause Fails For Prohibiting ERISA Relief

Mealey's (September 15, 2021, 10:53 AM EDT) -- CHICAGO — The fiduciaries of an employee stock ownership plan can’t compel arbitration of a plan participant’s putative class claims alleging financial misconduct because the plan’s arbitration provision prohibits relief expressly permitted by the Employee Retirement Income Security Act, the Seventh Circuit U.S. Court of Appeals ruled Sept. 10....