Pension Overpayments Raise Tough Questions About How to Recoup Losses, Attorneys Say

Via Bna.com,

By Sean Forbes, Bna.com

June 16, 2015

Pension overpayments result in a host of tough questions when plan fiduciaries attempt to recoup losses, such as the rights of the administrator to a full recovery and the rights of the participants to retain the full monthly payment to which they’re entitled, attorneys said in a webinar.

The first step is to adjust the payments to the correct amount, but after that, the situation “gets murky,” said Brian J. Dougherty, a partner in the Philadelphia office of Morgan Lewis & Bockius LLP, during a June 11 webinar on overpayments held by the American Bar Association’s Joint Committee on Employee Benefits.

The fiduciary of a plan covered under the Employee Retirement Income Security Act can invoke administrative claims procedure on its behalf, and then adjudicate its own claim, but “that’s sort of awkward,” Dougherty said.

Read the full article.

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