Benefits & Executive Comp

Case: Retirement Plans/Profit-Sharing Plan Beneficiary (E.D.N.C.)

Feb. 23, 2021, 12:53 AM

Nonprofit health provider Shriners Hospitals for Children’s claims that it was improperly denied its share of the proceeds from a deceased businessman’s $15 million profit sharing plan cleared motions to dismiss in the U.S. District Court for the Eastern District of North Carolina. The hospital can press state law fiduciary breach and fraud claims against parties connected to the Paul F.M. Shaver III Profit Sharing Plan, the court said. But the court dismissed ERISA claims, saying there was no ERISA-governed benefit plan at the center of the dispute. It also dismissed breach of contract claims and claims of unfair and...

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