In late October 2024, the United States Court of Appeals for the Eleventh Circuit ruled in Romano v. Hancock Life Insurance Company, F.4th 729 (11th Cir. 2024) that certain foreign tax credits that were generated as a result of 401(k) plan investments in separate accounts owned by John Hancock Life Insurance Company (“JHLIC”) were
ERISA Litigation
Fourth Circuit Approves Award of Estimated Delinquent Contributions
By Neil V. Shah & Anastasia Gellman on
Multiemployer benefit plans generally require contributing employers to submit “remittance reports” that identify the employees that performed covered work, the type of work performed, and the amount of time worked. Plans rely on the timely and accurate submission of these reports to ensure employers remit all required contributions and that participants accrue all benefits owed. …
Sixth Circuit Adopts IRS Standard to Determine Whether Activity Constitutes “Trade or Business” for Withdrawal Liability Purposes
By Neil V. Shah & Anastasia Gellman on
Under 29 U.S.C. § 1301(b)(1), all “trades or businesses” under common control with an employer that has withdrawn from a multiemployer pension plan are jointly and severally liable for the employer’s withdrawal liability. The statute does not define what it means to be a “trade or business,” and though the statute references regulations promulgated by the…
Sixth Circuit Again Invalidates ERISA Plan Arbitration Clause
By Joseph Clark & Jessica Wang on
The Sixth Circuit recently reversed a district court’s dismissal, and order requiring arbitration of, a proposed class action alleging fiduciary breaches in connection with the Kellogg Company 401(k) plan. Fleming v. Kellogg Co., 2024 WL 4534677 (6th Cir. Oct. 21, 2024). In so ruling, the Sixth Circuit added to the list of recent decisions…