CUEd In: Volume II, Issue 3 – September 2012

Author(s): Blitman & King LLP

 

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 understanding the impact that career related decisions—such as accepting a promotion, switching credit unions, or volunteering to partake in a voluntary layoff program—may have on your rights under an employee benefit plan.

To illustrate the concept, we focus on a recent case involving an executive that relied upon a representation from a service provider of the company in connection with the amount of pension benefits the executive was entitled to. Perhaps throughout the years the executive developed a relationship with the service provider, or maybe the executive assumed that because the company hired the service provider it would be competent. Regardless, the executive made a life altering decision, to his/her detriment, based on faulty information provided by the company’s service rather than seeking out advice from an independent source. We dissect this case and apply it in the context of credit unions.

If you wish to subscribe to CUEd In, please email cuedin@bklawyers.com.  To review issues of CUEd In, or for further information on our employee benefits and employment practices, visit us at bklawers.com/cuedin.

 

In addition, CUEd In is now a LinkedIn Group. You may visit the CUEd In LinkedIn page and join the group here: http://www.linkedin.com/pub/jonathan-cerrito/37/330/60. We are also on Facebook. You may visit and “Like” us at www.facebook.com/bklawyers. Through our LinkedIn Group, and Facebook, we will be disseminating information and updates for credit union executives.

Volume II, Issue 3-September 2012