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Retired Executives Win Reinstatement of Terminated SERP Benefits
Hodgson Russ LLP 
May 30, 2014 "[T]he district court sided with the executives, ruling that the company violated the Employee Retirement Income Security Act (ERISA) when it converted the benefits to lump-sum payments and terminated the SERP. Faulting the company for its procedural violations, the court found that the company employees who made the original decision to terminate the plan acted as unauthorized plan fiduciaries by engaging in actions that were discretionary in nature." [Gill v. Bausch & Lomb Supplemental Ret. Income Plan I, No. 6:09-CV-6043 (W.D.N.Y. Mar. 3, 2014)] MORE >> |
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