Edmonson v. Lincoln National Life Insurance

MEMORANDUM ON LINCOLN’S MOTION FOR SUMMARY JUDGMENT AND PLAINTIFF’S CROSS-MOTION FOR PARTIAL SUMMARY JUDGMENT

BAYLSON, District Judge.

I. Introduction

This case requires the Court to revisit a difficult issue of first impression in the Third Circuit concerning the Employee Retirement Income Security Act (“ERISA”), 29 U.S.C. §§ 1001, et seq. The precise issue presented is whether an *313insurer of an ERISA-governed employee welfare benefits plan — the terms of which do not specify the method of payment of life insurance proceeds — was acting as an ERISA fiduciary when it held and invested for its own…