Second Circuit Decides When An ERISA 502(a)(3) Underpayment Of Benefits Claim Accrues And Conditions Class Certification On Individualized Accrual Decisions

On an issue it described as “undecided,” the Second Circuit held on November 3, 2011 that a pensioner’s ERISA Section 502(a)(3) claim of an underpayment of benefits under an ERISA plan accrues “when there is enough information available to the pensioner to assure that he knows or reasonably should know of the miscalculation.” 

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