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Full-Text Articles in Law
The Pbgc Wins A Case Whenever The Debtor Keeps Its Pension Plan, Israel Goldowitz, Garth Wilson, Erin Kim, Kirsten Bender
The Pbgc Wins A Case Whenever The Debtor Keeps Its Pension Plan, Israel Goldowitz, Garth Wilson, Erin Kim, Kirsten Bender
Marquette Benefits and Social Welfare Law Review
The Pension Benefit Guaranty Corporation, the federal agency charged with insuring private-sector defined benefit pension plans, has long had a prominent role in corporate bankruptcies. PBGC focuses its effort on the continuation of pension plans, in true reorganizations and in sales of businesses. To this end, ERISA has made it more difficult for a sponsor to terminate a plan in its own economic interest. For example, a sponsor’s latitude to terminate an underfunded plan was limited to circumstances involving the sponsor’s financial distress. Likewise, the termination premium, which was added to ERISA in recent years, is an obligation that survives …
The Silliness Of Erisa: The Plan Is Not The Only Proper Party Defendant In An Erisa Benefits Claim, Donald T. Bogan
The Silliness Of Erisa: The Plan Is Not The Only Proper Party Defendant In An Erisa Benefits Claim, Donald T. Bogan
Marquette Benefits and Social Welfare Law Review
ERISA recites in § 502(d)(1) that a plan can sue and be sued as an entity. Does such a legislative pronouncement, in and of itself, establish the plan as a juristic person? Further, does Congress’s declaration that a plan can be sued suggest that no other person or entity can be held liable in an ERISA § 502(a)(1)(B) benefits claim? Relying upon ERISA § 502(d)(1), long-standing authority in the Ninth Circuit Court of Appeals, and in other circuits, holds that the plan, and only the plan, is a proper party defendant in an ERISA § 502(a)(1)(B) benefits claim. That is …