Third Circuit -- Mark Renfro v. Unisys Corp

Mark Renfro v. Unisys Corp

Dismissal of claim against ERISA directed trustee upheld, as, according to the plan paperwork, their fiduciary duty did not extend to the challenged conduct.

By pleading that directed trustee didn't exercise proper oversight, plaintiff's TKO the necessary scienter.

Statute does not permit recovery from non-fiduciaries involved in fiduciary breach.

Courts can pierce pleadings sufficiently to examine the mix of investment options offered by trustee - instant plan is kosher.