CUEd In: Volume I, Issue 3 – September 2011
Welcome to the third issue of CUEd In, our guide to the law and business of employee benefits for credit union executives. In this issue, we take a look at a recent case involving the recovery of incentive plan benefits by executives and the impact that waivers and releases can have on a credit union executive’s compensation package. We examine a timely opportunity for strategic credit unions—or a coalition of said—to further cement their influence within their state’s community while seizing upon a business opportunity presented by health care reform.
We discuss a court case involving an unfortunate situation for retired Chrysler executives to illustrate the legal framework applicable to supplemental retirement executive plans (SERPs) and potential pitfalls that many executives are not aware of. And, through this issue’s Litigation Corner, we aim to assist credit union executives better understand how a recent U.S. Supreme Court decision involving ERISA remedies will impact the operations of employee benefit plans that their credit union sponsors for its employees.
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This issue is jam-packed with information so let’s jump in…