2nd Circuit Tackles ERISA’s Prohibited Transaction Provision, Won’t Revive Case

Mealey's ( November 15, 2023, 11:57 AM EST) -- NEW YORK — In a Nov. 14 opinion upholding two challenged rulings concerning Cornell University retirement plans, a Second Circuit U.S. Court of Appeals panel partly accepted an invitation to adopt an “expansive” interpretation of the Employee Retirement Income Security Act’s prohibited transaction provision regarding a party in interest....