In what can be viewed as a victory for plan sponsors, the Supreme Court ruled on Monday that statute of limitation periods written into plan documents are valid, as long as those periods are reasonable. The court, however, declined to define reasonable.
The Supreme Court eliminated any uncertainty as to whether or not plan sponsors and/or employers can insert a contractual limitations period within the plan document itself, says Nicole Eichberger, a New Orleans-based lawyer in Proskauers employee benefits, executive compensation & ERISA litigation practice. And it did so by saying that contractual limitation periods written into plan documents are valid as long as they are reasonable, without opining as to what constitutes a reasonable period.
Register or login for access to this item and much more
All Employee Benefit Adviser content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access