Partners James McElligott and Bruce Steen were speakers at the BNA webinar titled "Cigna v. Amara: What
Equitable Monetary Remedies Now Exist" held on July 6. McElligott and Steen
discussed the U.S. Supreme Court decision, which reversed the broad ERISA class
remedies imposed by lower courts in a landmark ruling that threatens to change
the rules on monetary damages awarded against plan fiduciaries (ERISA Section
502(a)(3)). Topics included: the scope of benefits claims under plan terms after
Amara, implications of the ruling that summary plan descriptions cannot
be enforced as plan terms under ERISA, the Supreme Court’s discussion of
equitable remedies and whether it is binding on the Supreme Court and lower
courts, the prerequisites for obtaining relief under ERISA, how Amara
impacts class action litigation, and what steps employers and ERISA fiduciaries
should take to help avoid liability after Amara.
This webinar was summarized in BNA's Daily Pension & Benefits Reporter
on July 7, in an article titled "Attorneys Predict Amara Will Spawn More
Litigation Regarding Fiduciary Status."
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