McKinney v. Principal Financial Services Inc

District Court, N.D. Alabama·Decided May 8, 2025·No. 5:23-cv-01578·Unknown

Opinion

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF ALABAMA NORTHEASTERN DIVISION

REBEKAH KEITH MCKINNEY, ) as the Personal Representative of the ) Estate of Dorothy Carolyn Smith ) Davidson, Deceased, ) ) Plaintiff, ) ) vs. ) Case No. 5:23-cv-01578-HNJ ) PRINCIPAL FINANCIAL ) SERVICES, INC., et al., ) ) Defendants. )

MEMORANDUM OPINION AND ORDER Plaintiff, Rebekah Keith McKinney, who serves as the personal representative of the Estate of Dorothy Carolyn Smith Davidson (the Estate), asserts claims for relief under the Employee Retirement Income Security Act, 29 U.S.C. § 1001, et seq., against Defendants Principal Life Insurance Company (Principal or Principal Life) and Davidson Technologies, Inc. (DTI). (Doc. 35). DTI filed a motion for leave to a third- party complaint. (Doc. 62). Principal supports the motion (Doc. 66), but Plaintiff opposes it. (Doc. 65). As discussed herein, the proposed third-party complaint satisfies the requirements of Federal Rule of Civil Procedure 14, and all relevant discretionary factors weigh in favor of allowing the third-party complaint. Accordingly, the court will GRANT DTI’s motion and allow the filing of the third-party complaint. PROCEDURAL BACKGROUND Prior to her death, Mrs. Davidson received the proceeds of her husband’s

ERISA-governed 401(k) account associated with his DTI employment (the “Beneficiary Account”). Upon Mrs. Davidson’s death, DTI’s 401(k) Plan distributed the Beneficiary Account funds to her three nieces, Lisa Binn, Tammy Cason, and Kim Palmer, though the Plan allegedly should have distributed the account funds to the

Estate because Mrs. Davidson did not designate her nieces as beneficiaries of that account.1 The Estate seeks to recover those funds from DTI pursuant to 29 U.S.C. § 1132(a)(1)(B), and from both Principal and DTI pursuant to 29 U.S.C. § 1132(a)(3). Plaintiff originally filed suit on October 23, 2023, in the Circuit Court of Madison

County, Alabama, asserting state law claims against Principal and two other related entities. (Doc. 1-1).2 On November 8, 2023, Plaintiff amended her state court complaint. (Doc. 1-2, at 13-26). On November 21, 2023, Principal removed the case to this court due to ERISA preemption of the state law claims. (Doc. 1). On January

25, 2024, Plaintiff filed a Second Amended Complaint in this court (Doc. 19), and on

1 Mrs. Davidson designated her nieces as the beneficiaries of a separate 401(k) account she held due to her own employment at DTI. No party contests their entitlement to the proceeds of that account.

2 Previous iterations of the Complaint also asserted claims against Principal Financial Services, Inc., and Principal Securities, Inc. (See Doc. 1-1 (Complaint); Doc. 1-2, at 13-26); Doc. 19 (Second Amended Complaint)). However, due to their omission from the Third Amended Complaint, the court dismissed those Defendants on May 16, 2024. (Doc. 34).

2 May 16, 2024, she filed a Third Amended Complaint. (Doc. 35). The Third Amended Complaint added DTI as a Defendant. (Id.).

On May 30, 2024, Principal moved to dismiss the Third Amended Complaint. (Doc. 36). On July 15, 2024, DTI waived service of the Third Amended Complaint (Doc. 40), and it answered that pleading on September 13, 2024. (Doc. 41). On January 23, 2025, the court partially granted Principal’s motion to dismiss, leaving only

Plaintiff’s § 1132(a)(1)(B) claim against DTI, and Plaintiff’s § 1132(a)(3) claim against both Principal and DTI. (Doc. 55). On February 13, 2025, after receiving an extension of the pertinent deadline, Principal answered the Third Amended Complaint. (Doc. 60).

On February 24, 2025, the parties filed a report of Rule 26(f) planning meeting, in which they proposed that “Plaintiff shall have until thirty days after the close of discovery to join any additional parties and/or amend the pleadings.” (Doc. 61, at 7, ¶ 5(b)). Later on February 24, 2025, DTI filed the instant motion for leave to file a third-

party complaint. (Doc. 62). On February 25, 2025, the court entered a scheduling order setting a discovery deadline of August 11, 2025, setting a dispositive motion deadline of September 10, 2025, and stating: “No party may add causes of action, defenses, or

parties later than thirty (30) days after the close of discovery.” (Doc. 64, ¶¶ 1, 2, 4(b)). ALLEGATIONS OF PROPOSED THIRD-PARTY COMPLAINT DTI’s proposed third-party complaint seeks to assert claims against Tammy 3 Cason and Kim Palmer for restitution and unjust enrichment pursuant to 29 U.S.C. § 1132(a)(3). (Doc. 67, at 11-15).3 DTI alleges:

18. ERISA allows a Plan fiduciary, such as the Plan Administrator, to bring suit for appropriate equitable relief to enforce the terms of the Plan.

19. Under the terms of the Plan, the funds in the Beneficiary Account were payable to the Estate.

20. Third-Party Defendants are not entitled to retain the funds paid to them from the Beneficiary Account, they have no lawful claim to those funds, and their acceptance and retention of those funds would violate established principles of fairness and equity.

21. As a result, Third-Party Defendants have been unjustly enriched in the amounts that each received from the Beneficiary Account but has not returned.

22. Therefore, DTI, as Plan Administrator on behalf of the Plan, is either entitled to restitution from Third-Party Defendants of those funds paid to them, or Third-Party Defendants should be required to pay those funds to the Estate, either directly or through reimbursement or restitution to the Plan.

23. Alternatively, an equitable lien and/or constructive trust should be imposed upon the funds paid to Third-Party Defendants in order to preserve principles of equity and fairness.

(Id. at 14-15, ¶¶ 18-23). As the factual basis for the third-party claims, DTI alleges: 6. Dr. Julian Davidson was a participant in the Plan, and his wife,

3 DTI originally sought to assert third-party claims against Lisa Binns as well as against Tammy Cason and Kim Palmer. (Doc. 62, at 6-11). However, DTI later acknowledged Binns returned all of the contested funds (Doc. 67, at 8), and it limited its proposed third-party claims to Cason and Palmer. (Id. at 11-15). 4 Dorothy Davidson, was the beneficiary of his retirement account under the Plan.

7. When Dr. Davidson died, the funds in his retirement account passed to Mrs. Davidson and were deposited in an account under her name . . . (the “Beneficiary Account”).

8. Mrs. Davidson was also a participant in the Plan with her own separate retirement account . . . (“the Participant Account”).

9. The Third-Party Defendants were the designated beneficiaries on the Participant Account.

10. No beneficiary was designated for the Beneficiary Account; therefore, under the terms of the Plan, Mrs. Davidson’s Estate was the default beneficiary.

11. Mrs. Davidson died on May 11, 2021.

12. Effective September 21, 2021, the funds from the Participant Account were moved to accounts for the Third-Party Defendants.

13. Effective October 27, 2021, the funds from the Beneficiary Account were also moved to the Third-Party Defendants’ accounts.

14. On June 29, 2022, letters were sent to Third-Party Defendants explaining that they had been overpaid and that the overpaid funds had to be returned.

15.

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