Benefits lobby files brief in lawsuit over fiduciary breach claims

The ERISA Industry Committee has urged a federal appeals court to affirm a decision to dismiss fiduciary breach claims that were tossed out against a plan sponsor, reports Plansponsor. The committee filed an amicus brief refuting fiduciary breach claims against the plan sponsor, The committee argues that the case against plan sponsor Barrick Gold of North America, brought under the Employee Retirement Income Security Act “is one of over 200 similar lawsuits brought in recent years against employer plan sponsors in nearly every industry and generating exorbitant legal costs.”