ERISA Circuit Splits Argued In Petition On 2nd Circuit Residual Annuities Decision

(June 28, 2023, 2:37 PM EDT) -- WASHINGTON, D.C. — Arguing that the challenged ruling “erected two obstacles” to the deference owed Employee Retirement Income Security Act plan administrators under an “arbitrary and capricious” standard of review, Colgate-Palmolive Co. and related petitioners (collectively, Colgate) petitioned the U.S. Supreme Court regarding a class action over residual annuities....