Multiemployer plans: Multiemployer plans- reciprocal pensions-vesting- breach of fiduciary duty
Article Abstract:
In the Smith vs Contini lawsuit, the court ultimately ruled that pro-rate pension requirements violate ERISA when they make benefits contingent upon obtaining more service credits than ERISA permits. Trustees of funds offering pro-rata pensions have a fiduciary duty to comply with the law. The case involved a trucker who earned service credits with several different Teamsters locals, which had reciprocal agreements. When he applied for pension benefits, he was at first turned down on the grounds that he needed to have 15 years of credits to qualify; ERISA has a maximum vesting requirement of 10 years.
Publication Name: Benefits Quarterly
Subject: Human resources and labor relations
ISSN: 8756-1263
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
Multiemployer plans: mulitemployer plans- obligation to contribute- written areement
Article Abstract:
In the suit against C Volante, the Local 282 funds were entitled to contributions to multiemployer funds on the grounds of a prior union contract. The truck rental company had not actually signed the collective bargaining agreement, but had signed a prior agreement and had submitted remittance reports to multiemployer funds on the basis of the signed agreement. The court ultimately found that the company owed full contributions because it submitted partial payments, although it had not signed a collective bargaining agreement in some years.
Publication Name: Benefits Quarterly
Subject: Human resources and labor relations
ISSN: 8756-1263
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
Multiemployer plans - fiduciary duty - corporate officers as fiduciaries
Article Abstract:
The clarifications relating to the imputation of fiduciary duties to corporate officers as discussed in ITPE Pension Fund v. Hall, 30 Employee Benefits Case, (BNA) 1943, 2003 U.S. App. LEXIS 12477 (11th Cir. 2003) are presented.
Publication Name: Benefits Quarterly
Subject: Human resources and labor relations
ISSN: 8756-1263
Year: 2004
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Fiduciary or employer-Business decisions-Severance. Disclosure-Severance from service-breach of fiduciary duty
- Abstracts: Unlocking employee performance: pay for performance. Unlocking employee potential: developing skills. Unlocking employee potential: managing performance
- Abstracts: Transfers: the European dimension. Wages in lieu of notice
- Abstracts: The employment law implications of the Sarbanes-Oxley act in the U.S.A. Impact of US anti-discrimination laws on foreign corporations: part 1
- Abstracts: Why employers should care about Medicare+Choice. Engaging employees in health care: can contain costs and improve quality