Forcing Terminated ESOP Participants Out of Company Stock Did Not Violate ERISA

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Forcing Terminated ESOP Participants Out of Company Stock Did Not Violate ERISA
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[Guidance Overview]
Mar. 3, 2010

Excerpt: Chief Judge Ralph R. Erickson said in his opinion that an employer offering a plan which provides terminating participants a single sum distribution in employer stock 'may modify the plan to provide the equivalent distribution in cash without violation of the anti-cutback provisions' of ERISA.

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