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- Title
FIDUCIARY DUTY.
- Abstract
This article presents the case of Fisher versus Philadelphia Electric Co. It is noted that an employer owed a fiduciary obligation as plan administrator under the Employee Retirement Income Security Act not to make affirmative misrepresentations on topic of early retirement to plan beneficiaries. According to the court, this fiduciary obligation may not be circumvented by an employer by keeping those employees on whom plan beneficiaries rely for information about retirement ignorant of any changes to benefits plan.
- Subjects
PHILADELPHIA Electric Co.; FIDUCIARY responsibility; PROHIBITED transactions (Employee benefits); RESPONSIBILITY; FRAUD; TRUSTS &; trustees; BENEFICIARIES; EMPLOYEES; ACTIONS &; defenses (Law)
- Publication
Benefits Quarterly, 1996, Vol 12, Issue 2, p85
- ISSN
8756-1263
- Publication type
Article