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Fourth Circuit Holds That Merrill Lynch's WealthChoice Award Program Is Not an ERISA-Covered Employee Pension Benefit Plan
Roberts Disability Law 
Apr. 20, 2026 "[T]he Fourth Circuit affirmed a district court's order granting summary judgment to Merrill Lynch, holding that the company's WealthChoice Award program -- a contingent cash incentive requiring eight years of continuous employment to vest -- is an excepted bonus payment plan under 29 C.F.R. § 2510.3-2(c) and does not qualify as an ERISA-covered employee pension benefit plan." [Milligan v. Merrill Lynch, No. 25-1385 (4th Cir. Apr. 17, 2026)] MORE >> |
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