The Supreme Court on Monday decided against imposing a new requirement on employer pension plans. In a unanimous decision, the justices said companies do not have a duty to consider an invitation to merge their pension plans as an alternative to terminating them. The ruling came in the case of Crown Vantage Inc., a bankrupt paper company that received a merger proposal from a labor union pension fund to cover Crown's 17 pension plans.
June 12, 2007 at 12:00 AM
1 minute read
The original version of this story was published on National Law Journal
The Supreme Court on Monday decided against imposing a new requirement on employer pension plans.
In a unanimous decision, the justices said companies do not have a duty to consider an invitation to merge their pension plans as an alternative to terminating them.
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