Federal Judge Dismisses ERISA Claims Based On FLSA Overtime Violations

NEW YORK - Former participants in a 401(k) plan cannot pursue Employee Retirement Income Security Act claims alleging breach of fiduciary duty and violations of record-keeping requirements related to their not being credited with overtime work performed because the plan language determined benefits based on compensation paid rather than hours worked, a federal judge in New York ruled Jan. 27 in dismissing the former employees' ERISA claims with prejudice (Frederick L. Winfield, et al. v. Citibank, N.A., No. 10 Civ. 7304, S.D. N.Y.; 2012 U.S. Dist. LEXIS 10808). Full story on lexis.com