In M&G Polymers USA, LLC v. Tackett, the U.S. Supreme Court has opened the door for many employers to re-examine their ability to alter or amend retiree benefit plans. The Court rejected a long-standing presumption in the Sixth Circuit of the U.S. Court of Appeals (Michigan, Kentucky, Ohio and Tennessee) that retiree benefits in collective … Continue Reading
For employers, the Hobby Lobby decision of the U.S. Supreme Court makes no attempt to define the scope and meaning of the term “closely held” corporation. The majority opinion stated that “the cases before us are closely held corporations, owned and controlled by members of a single family”. Is this ruling supposed to be limited … Continue Reading
The U.S. Supreme Court’s decision in Fifth Third Bancorp v. Dudenhoeffer eliminates an ESOP fiduciary’s presumption of prudence in relation to the holding employer securities. Many have viewed this decision with horror. However, my perspective is that the “revised” pleading standards articulated by the court will actually be a significant silver lining for ESOP fiduciaries. … Continue Reading
The U.S. Supreme Court’s recent decision in United States v. Quality Stores, Inc., No. 12-1408.,188 L. Ed. 2d 413, has broader implications for employers than its legal holding. On its face, the holding is that supplemental unemployment compensation benefits paid to terminated employees after a reduction in force or closing of an operation are subject … Continue Reading
