Aldridge v. Regions Bank

Issue: (1) Whether, when proceeding under § 502(a)(3) of the Employee Retirement Income Security Act of 1974, 29 U.S.C. § 1132(a)(3), a beneficiary may seek surcharge, a remedy that this court has described as being “exclusively equitable”; and (2) whether, if surcharge is unavailable under § 1132(a)(3), a beneficiary may pursue state-law claims arising out of a contract that is separate and apart from an ERISA plan and that is not required by the plan, or whether these state-law claims are preempted, thereby leaving the beneficiary without a remedy under either federal or state law.