By Porter Wright on If you are the fiduciary of an ERISA plan that invested in John Hancock group variable annuity contracts, we hope you have heard that three individuals have filed a lawsuit, claiming to be representing your plan and its participants and beneficiaries. You will not be receiving service of process.… Continue Reading
By Porter Wright on While in the heat of negotiating, dealmakers can overlook potentially costly exposure in a variety of areas, such as employee benefits. As explained by Becca Kopp in our sister blog, Employer Law Report, in Ohio, buyers may incur unanticipated liability for workers’ compensation obligations, regardless of what is set forth in the documentation. This may … Continue Reading
By Porter Wright on Would you like to spend a morning outside of the office, enjoying free breakfast and continuing education credit? Here's your chance! This month, Porter Wright is sponsoring Employment Relations Seminars in both Cleveland and Columbus. I will be speaking about employee benefits developments and best practices at both session, and would love to see you there. … Continue Reading
By Porter Wright on Supreme Court decisions about ERISA cases, while infrequent, typically contain some surprises, as demonstrated most recently in CIGNA Corp. v. Amara. In 1997, CIGNA notified employees that it was freezing accruals under its traditional defined benefit plan, and converting the plan into a cash balance plan. A cash balance plan is a “hybrid” defined benefit … Continue Reading
