First Circuit: Kelley v. Fidelity Mgmt. Trust Co.

Souter, ERISA, Agency


Funds transferred to the plan administrator's account for a fixed-sum disbursement to the beneficiary are not transmogrified into plan assets while in the holding account, and the general beneficiaries of the plan therefore have no claim on the interest earned.


Kelley v. Fidelity Mgmt. Trust Co.