Legal Opinion
Firstier Bank, N.A. v. Zeller
Court of Appeals for the Eighth Circuit
Decided February 16, 1994No. 92-3595PublishedCited by 46 opinions
1Opinion of the Court
LOKEN, Circuit Judge.
This appeal requires us to define the fiduciary duties of an ERISA1 plan trustee in carrying out an employer’s direction to make loans to plan participants that are exempt from some ERISA prohibitions under 29 U.S.C. § 1108(b)(1). We agree with the district court2 that the trustee retains certain fiduciary duties that were not violated by appellee FirsTier Bank, N.A., in this case. Accordingly, except for a Rule 11 sanction, we affirm.
I. Background.
Appellants James Zeller, Patricia Olsen, James Lonergan, and Bryan Vercoe, who will be referred to in this opinion as the…
2Cases cited10 opinions
- Mertens v. Hewitt AssociatesSupreme Court of the United States · 1993
- John Hancock Mutual Life Insurance v. Harris Trust & Savings BankSupreme Court of the United States · 1993
- Martin v. FeilenCourt of Appeals for the Eighth Circuit · 1992
- Joan Lawrence v. Carl L. Westerhaus, Edward A. Shepard and Bobby HannaCourt of Appeals for the Eighth Circuit · 1984
- Consolidated Beef Industries, Inc. v. New York Life Insurance CompanyCourt of Appeals for the Eighth Circuit · 1991
5 more not listed; retrieve them via the Exa API.
3Cited by46 opinions
- In Re Enron Corp. Securities, Derivative & ERISADistrict Court, S.D. Texas · 2003
- Briscoe v. FineCourt of Appeals for the Sixth Circuit · 2006
- In Re WorldCom, Inc. Erisa LitigationDistrict Court, S.D. New York · 2003
- Board of Trustees of Bricklayers and Allied Craftsmen Local 6 of New Jersey Welfare Fund v. Wettlin Associates, IncCourt of Appeals for the Third Circuit · 2001
- 21 Employee Benefits Cas. 2761, Pens. Plan Guide (Cch) P 23941u David W. Silverman, as Independent Fiduciary of the Unitron Graphics, Inc. Profit Sharing Trust and Unitron Graphics, Inc. Profit Sharing Trust-Union and Non-Union Division v. Mutual Benefit Life Insurance Company, Principal Mutual Life Insurance Company and Helene Gorny, Jacob Zucker and Aaron FertigCourt of Appeals for the Second Circuit · 1998
41 more not listed; retrieve them via the Exa API.