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Sixth Circuit Finds Personal Trust May Be Liable for Single-Employer DB Plan Termination Costs
PLANSPONSOR; registration may be required Link to more items from this source
Sept. 6, 2018
"The panel held that ... any entity that leases property to a commonly controlled company is categorically a trade or business for ERISA purposes.... [The court wrote,] 'The commonsense conclusion is yes: when a business gives land to the business's sole owner, who then puts it in a trust -- run by his sons -- which then leases the land back to his business, that land never stopped being a part of the company's functional assets.'  " [PBGC v. Findlay Industries, No. 17-3520 (6th Cir. Sept. 4, 2018)]

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