Opinion
MICHAEL F. CAVANAGH, J.
The issue in this case is whether the preemption provision of the Employee Retirement Income Security Act (ERISA), 29 U.S.C. 1001 et seq., precludes a named beneficiary from waiving the proceeds from a life insurance policy. We hold that it does not. While a plan administrator is required by ERISA to distribute plan proceeds to the named beneficiary, the named beneficiary can then be found to have waived the right to...
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