Takeaways - The Supreme Court heard arguments in December 2021 in a case that could raise the bar for pleading ERISA fiduciary claims. A split developed in.
The Seventh Circuit Court of Appeals recently concluded that an arbitration clause that prohibited claimants from seeking or receiving any remedy that provided additional retirement.
On September 10, 2021, the Seventh Circuit decided Smith v. Board of Directors of Triad Manufacturing Inc., No. 20-2708, holding that benefit plans may require claimants to arbitrate.
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Workers Ask 7th Circ. To Keep ERISA Suit In Court
Law360 (January 20, 2021, 5:02 PM EST) A proposed class of current and former Triad Manufacturing Inc. employees urged the Seventh Circuit to keep their ERISA suit in the courthouse, saying an Illinois federal judge correctly ruled that companies can t compel individual arbitration of class actions alleging benefit plan mismanagement.
In a brief lodged Tuesday at the Seventh Circuit, the proposed class said the mandatory arbitration clause in Triad s employee stock ownership plan was null and void because it attempted to restrict workers Employee Retirement Income Security Act-protected right to sue collectively.