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Los Angeles County Bar Association • daily ebriefs • Tuesday, April 7, 2015
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The following caselaw summaries are provided as a courtesy to Los Angeles County Bar Association members by the Metropolitan News-Enterprise http://www.metnews.com. Summaries from the past 90 days are archived and searchable on the LACBA Web site at http://www.lacba.org/dailyebriefs.
-Labor and Employment Law-
ERISA’s "hold in trust" requirement is satisfied when a person--the "trustee," who need not be a natural person--holds legal title to the assets of an employee benefit plan with the intent to deal with these assets solely for the benefit of the members of that plan. The relationship between the trustee and the plan members is a "trust" within the meaning of the statute, and the parties need not use express words of trust in plan documents. Plaintiff raised a triable issue as to whether defendants violated ERISA’s prohibition against fiduciary self-dealing by presenting evidence that the plan administrator made a practice of paying its own fees and expenses from the plan’s assets. The "summary annual report" requirement under regulations implementing ERISA did not apply to subject plan, because--as a labor union plan established for the benefit of the union’s members, with benefits paid from the union’s general assets--it was "totally unfunded" within the meaning of those regulations.
     Barboza v. California Association of Professional Firefighters - filed April 7, 2015
     Cite as 2015 S.O.S. 11-15472
     Full text http://www.metnews.com/sos.cgi?0415//11-15472
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