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- Title
MULTIEMPLOYER PLANS.
- Authors
Hesse, Katherine A.; Ehrens, Doris R. MacKenzie
- Abstract
The article features two court cases on multiemployer pension and annuity funds in the United States. In Trustees and Fiduciaries of the Local 282 Welfare, Pension, Annuity, and Job Training Trust Funds versus C. Volante Corp. ascertained that an employer was obligated to contribute to multiemployer funds pursuant to collective bargaining agreements it had not actually signed because it had submitted remittance reports to multiemployer funds in accordance with the terms of existing collective bargaining agreements, cooperated with the funds' audit, paid union wages, paid some of the contributions required by the collective bargaining agreement and acknowledged its responsibility to the funds, thereby manifesting its intent to adopt the unsigned collective bargaining agreements. The article also discusses Smith v. Contini case. A pro-rata reciprocal pension is subject to ERISA's ten-year vesting requirement. Requirements that make benefits under a pro-rata pension contingent upon obtaining service requirements beyond the ten years permitted by ERISA violate ERISA's vesting requirements. The trustees have a fiduciary duty to comply with ERISA, and requiring more than ten years of service credit is a breach of fiduciary duty.
- Subjects
UNITED States; ACTIONS &; defenses (Law); MULTIEMPLOYER pension plans; ANNUITIES; EMPLOYERS; COLLECTIVE bargaining; PENSIONS
- Publication
Benefits Quarterly, 2001, Vol 17, Issue 4, p94
- ISSN
8756-1263
- Publication type
Article