Ryan McAfee v. Metropolitan Life Insurance Co

MEMORANDUM

Metropolitan Life Insurance Company (“MetLife”) appeals the district court’s judgment granting the maximum amount of Long-Term Disability (“LTD”) benefits to Ryan McAfee pursuant to his employer’s benefit plan (“the plan”), which was funded and administered by MetLife, and governed by the Employee Retirement Income Security Act of 1974 (“ERISA”), 29 U.S.C. §§ 1001-1461. MetLife argues that it was not an abuse of discretion to exclude McAfee’s performance-based employee stock options (“ESOs”) in calculating McAfee’s benefits. In the alternative, MetLife argues that it did not abuse its discretion in valuating McAfee’s ESOs. We review de novo the district court’s grant of summary judgment. Vaught v. Scottsdale Healthcare Corp. Health Plan, 546 F.3d 620, 625 (9th Cir.2008). When the district court conducts a bench trial, we review de novo the district court’s conclusions of law and will set aside the district court’s findings of fact only if they are clearly erroneous. Saltarelli v. Bob Baker Group Med. Trust, 35 F.3d 382 , 384-85 (9th Cir.1994). We have jurisdiction pursuant to 28 U.S.C. § 1291 , and we affirm.

First, although ERISA does not require a participant or…