Tenth Circuit Affirms Damages Based On Revenue Credit, And Makes Clear That Arms-Length Service Agreements Without Evidence Of A Prior Relationship Are Not Prohibited Transactions
By EsqSocial Corporation 21/06/21
On appeal following a bench trial of claims brought by a class of participants and beneficiaries of a 401(k) plan, the Tenth Circuit affirmed the decision of the District of Colorado calculating damages and prejudgment interest, denying injunctive relief, and finding the employer did not engage in a “prohibited transaction” under ERISA Section 406, 29 U.S.C. § 1106. Ramos v. Banner Health, No. 20-1231 (10th Cir. June 11, 2021)......
By: Jackson Lewis P.C.