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Predecessor Employer Defeats Proposed Class Action Challenging Spin-Off's Decision to Cut Retiree Benefits
Jackson Lewis P.C.
July 14, 2021 "[T]he court recognized that taking necessary steps to complete a business transaction -- here, predecessor PPG transferring benefits liabilities for its commodity chemicals division to a separate, newly created successor entity, Axiall Corp. -- does not trigger PPG's general fiduciary duties under ERISA, nor create liability for PPG where the terminated benefits were unvested, and where PPG was no longer associated with the plan." [Bellon v. PPG Employee Life & Other Benefits Plan, No. 18-0114 (N.D. W.Va. June 28, 2021)] MORE >> |
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