Morgan Lewis Examines Co-Fiduciary Liability

In a recent article in Bloomberg BNA’s Pensions & Benefits Daily titled “View from Morgan Lewis: ERISA Fiduciary Accused of Breaching Duty May Have a Right to Seek Contribution or Indemnification From Co-Fiduciaries”, Morgan Lewis explained:

“ERISA fiduciaries can be personally liable if the other fiduciaries commit a breach, particularly because ERISA renders fiduciaries liable for breaches by co-fiduciaries, meaning others who owe fiduciary obligations to the plan and its beneficiaries, in certain circumstances…

Courts do not agree whether or to what extent ERISA fiduciaries have a right to seek contribution or indemnification from breaching co-fiduciaries. Determining whether such a right exists, and to what extent, requires consideration of a few factors…”

To read the entire article, click here.