In two opinions—one published and one unpublished—the Ninth Circuit overturned prior precedent and held that a Plan amendment requiring arbitration meant that an individual had to arbitrate, on an individual basis, purported class claims alleging imprudent and disloyal management of 401(k) investments. This decision, although unpublished, provides support for plans wishing to add binding arbitration provisions that apply to ERISA 502(a)(2) claims.
Ninth Circuit Answers Some Questions About Arbitration of ERISA Claims
By Richard J. Pearl on September 5, 2019
Posted In Benefit Controversies, Employee Benefits, Retirement Plans