9th Circuit: Retirement Plan Administrator Had No Fiduciary Duties Under ERISA

Mealey's (February 26, 2018, 2:21 PM EST) -- PASADENA, Calif. — A Ninth Circuit U.S. Court of Appeals panel on Feb. 23 ordered a federal judge in California to vacate a ruling denying a retirement plan administrator’s motion to dismiss a lawsuit brought under the Employee Retirement Income Security Act, finding that the administrator did not breach its fiduciary duty under the act when negotiating with an employer about providing services under a 401(k) plan and withdrawing predetermined fees (Jaclyn Santomenno, et al. v. Transamerica Life Insurance Company, et al., No. 16-56418, 9th Cir., 2018 U.S. App. LEXIS 4372)....