Another Court applies ERISA’s Six Year Statute of Limitations to Bar a Claim
We recently discussed the decision of Fuller v. SunTrust Banks, Inc., No. No. 12-16217 (11th Cir. Feb. 26, 2014), where the Eleventh Circuit found that an action brought against ERISA fiduciaries for malfeasance in connection with the selection of certain plan investments was barred by ERISA’s six year statute of limitations. Likewise, the First Circuit held in Riley v. Met Life Ins., that a claimants suit for miscalculation of monthly benefits was also barred by the six year limitations period. Here, Riley was an employee of Metropolitan Life Insurance company that began receiving long term benefits from his employer in 2005. At that time, Riley contested the amount of his monthly benefit but never filed a lawsuit over the issue until 2012. The district court granted summary judgment and the First Circuit affirmed finding that the claim accrued in 2005. The court rejected the plaintiff’s argument that because payments were paid monthly that each payment constituted a separate breach.