Life Insurer Prevails in First Circuit Appeal in ERISA Class Action...

In a unanimous panel decision, the U.S. Court of Appeals for the First Circuit reversed a trial court's ruling that the defendant, Unum Life Insurance Company of America , had breached fiduciary duties under the Employee Retirement Income Security Act of 1974 by using so-called retained asset accounts to disburse death benefits under employer-sponsored benefit plans funded by group life insurance policies that Unum issued to the plans. Merrimon v.



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