Reformation and surcharge under ERISA — Expanding on a Supreme Court theory

Description

Abstract: Last year, the U.S. Supreme Court ruled that a summary plan description (SPD) isn’t a plan document subject to enforcement under the Employee Retirement Income Security Act of 1974 (ERISA). The Court did, however, state that, if an employer issued an intentionally misleading SPD, a plan participant may have an ERISA claim under equitable doctrines, such as reformation and surcharge. This brief article reviews a U.S. Court of Appeals for the Ninth Circuit case that tackled this issue. Citation: Skinner v. Northrop Grumman Retirement Plan B, 673 F.3d 1162 (9th Cir. Mar. 16, 2012); ERISA §502(a)(1)(B).