A recent decision by the U.S. Supreme Court seems to limit the ability of ERISA plans to seek equitable relief or reimbursement of payments from a third-party recovery—especially in cases where the money is not quickly and formally pursued.
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A notice from the IRS gives guidance to plan sponsors, applying the Supreme Court’s same-sex marriage case to retirement plans, as well as other benefits. The landmark case, Obergefell v. Hodges, decided in June 2015, held that under the 14th Amendment states cannot deny same-gender couples the right to marry and must recognize same-gender marriages performed in other states.
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The U.S. Supreme Court found an appellate decision regarding a Verizon pension plan risk transfer flawed, considering the trust law underpinnings of the Employee Retirement Income Security Act.
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The late Supreme Court Justice Antonin Scalia had a direct (but not necessarily pivotal) role in shaping many of the SCOTUS decisions tracked in recent years by the retirement planning industry.
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The appeals court has technically affirmed, vacated and reversed parts of a district court ruling that granted summary judgement against the plaintiffs; while this sounds like a mixed outcome, the appellate ruling benefits the defense.
