AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Bates & Company, Inc.
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Loan & Distribution Specialist AimPoint Pension
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Compass
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GM Not Obligated to Make $450 Million Contribution to Fund Union Retiree Health Benefits
Proskauer's ERISA Practice Center June 2, 2015 "The district court granted summary judgment in favor of New GM, finding that the $450 million contribution obligation did not survive GM's reorganization.... [T]he Sixth Circuit [found] that the obligation did survive because the purchase agreement associated therewith passed on all liabilities arising under the UAW Collective Bargaining Agreement, which included the obligation to make the $450 million contribution. However, the Court nonetheless determined that New GM was not obligated to pay because a subsequent settlement agreement between GM and the UAW was properly construed as having extinguished GM's former obligation." [UAW v. Gen. Motors, LLC, No. 14-1019 (6th Cir. May 14, 2015; unpub.)] |
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