Jenner & Block

"Beck v. Pace Int'l Union: Blurring the Settlor/Fiduciary Divide," Employee Relations Law Journal, Vol 33, No. 1

In this article published in the Employee Relations Law Journal, Jenner & Block Partners Craig C. Martin and William L. Scogland discussed the decision of the Court of Appeals for the Ninth Circuit decision in Beck v. Pace International Union, which held that the employer breached its fiduciary duties in deciding to terminate its pension plans by purchasing an annuity without first considering the possibility of merging the plans into a multiemployer plan.  The Beck case was argued before the U.S. Supreme Court in April of 2007, and on June 11 the Court decided that the employer did not breach its fiduciary obligations because merger is not a permissible form of plan termination under ERISA.