CA1: a Checkbook is not a payment under ERISA

Mogel v. UNUM Life Insurance, No. 08-1334.  This is an ERISA case.  It holds that “security accounts” that were established to fund death benefits are not separate accounts and therefore UNUM’s ERISA-based fiduciary duty applies.  UNUM claims that it complied with its fiduciary duties by “delivering a checkbook” (with small limits on the amount of the checks that could be written).  This seems pretty obvious, but it is a reversal of the District Court.