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Home / Courts / Labor & Employment – Union Pension Plan – Breach of Fiduciary Duty – Damages & Fee Award Vacated (access required)

Labor & Employment – Union Pension Plan – Breach of Fiduciary Duty – Damages & Fee Award Vacated (access required)

Plasterers’ Local Union No. 96 v. Pepper Although former trustees of a plasterers’ union pension plan breached their ERISA fiduciary duty by failing to investigate plan investment options and using only certificates of deposit and Treasury bills for a 10-year period, the district court erred in assessing damages against the former trustees without first determining whether the actual investments were imprudent, and the 4th Circuit vacates the judgment in favor of the current plan trustees.

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