Jenner & Block

“Unintended Consequences: Corporate Purchase Agreements and Amending ERISA Plans,” Employee Relations Law Journal, Vol. 38, No. 2

In this article, Jenner & Block Partners Craig C. Martin and William L. Scogland examine the legal climate regarding amendments to ERISA plans in corporate purchase agreements.  Courts are split over whether an employer who enters into a corporate purchase agreement and covenants to take certain actions with respect to its ERISA-covered employee benefit plan has unintentionally amended that plan, they explain.  The U.S. Supreme Court recently refused to settle the split.  The authors caution that, “Employers should be aware of all of the possible dangers associated with this relatively unsettled area of the law.”