JOHN HANCOCK MUT. LIFE INS. CO. v. HARRIS TRUST AND SAV. BANK

No. 92-1074.

510 U.S. 86 (1993)

JOHN HANCOCK MUTUAL LIFE INSURANCE CO. v. HARRIS TRUST AND SAVINGS BANK, as trustee of the SPERRY MASTER RETIREMENT TRUST NO. 2

Supreme Court of United States.

Decided December 13, 1993.


Attorney(s) appearing for the Case

Howard G. Kristol argued the cause for petitioner. With him on the briefs were Robert M. Peak, Rosalie A. Hailey, and Richard J. J. Scarola.

Christopher J. Wright argued the cause for the United States as amicus curiae urging reversal. With him on the brief were Acting Solicitor General Bryson, Acting Deputy Solicitor General Kneedler, Judith E. Kramer, Allen H. Feldman, Nathaniel I. Spiller, and Elizabeth Hopkins.

Lawrence Kill argued the cause for respondent. With him on the brief was John B. Berringer.*

GINSBURG, J., delivered the opinion of the Court, in which REHNQUIST, C. J., and BLACKMUN, STEVENS, SCALIA, and SOUTER, JJ., joined. THOMAS, J., filed a dissenting opinion, in which O'CONNOR and KENNEDY, JJ., joined, p. 111.


JUSTICE GINSBURG delivered the opinion of the Court.

This case presents an issue of statutory construction— whether the fiduciary standards stated in the Employee Retirement Income Security Act of 1974 (ERISA) govern an insurance company's conduct in relation to certain annuity contracts. Fiduciary status under ERISA generally attends the management of "plan assets." The statute, however, contains no comprehensive definition of "plan assets." Our task in this...

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