CUEd In: Volume II, Issue 2 – June 2012
Welcome to the next issue of CUEd In, our guide to the law and business of employee benefits for credit union executives.
In this issue, we highlight the importance of one theme: process. We spotlight the keys to understanding the procedures of challenging a denial of executive benefits. To demonstrate the procedural principles at issue, we use a recent case involving a handful of executives that challenged a plan committee’s determination that the executives forfeited all rights to deferred compensation benefits based on their subsequent work for a competing company. The case embodies the interaction between state and federal court jurisdiction and, importantly, the relationship between a plan committee’s determination and court review. We dissect this case and apply it in the context of credit unions.
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