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Committee advances ERISA litigation reform; supporters seek to curb early discovery, opponents warn of limits on participants' rights
Summary
The committee agreed to an amendment in the nature of a substitute to HR 6084, the ERISA Litigation Reform Act, which raises pleading standards and temporarily stays discovery until motions to dismiss are resolved. Supporters said it protects plan assets from frivolous suits; opponents said it risks undermining remedies for participants and urged narrower changes.
Representative Fine, sponsor of HR 6084 (ERISA Litigation Reform Act), argued the bill would curb frivolous class actions that drain plan resources and divert money from retirement benefits. He described three reforms: placing heightened pleading burdens on some fee claims, tightening pleading…
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