Employee Benefits & Executive Compensation Blog

The View from Proskauer on Developments in the World of Employee Benefits, Executive Compensation & ERISA Litigation

Category Archives: Release Agreements / Settlements

Subscribe to Release Agreements / Settlements RSS Feed

GM Not Obligated to Make $450 Million Contribution to Fund Union Retiree Health Benefits

The Sixth Circuit held that GM was not obligated to contribute $450 million to fund retiree health benefits for UAW members because the most recent contract between the UAW and GM extinguished GM’s former obligation to contribute.  In response to earlier litigation between the UAW against GM to recover retiree health benefits and a bankruptcy reorganization, GM … Continue Reading

401(k) Plan Participant Waived ERISA Stock-Drop Claim

The D.C. Circuit affirmed the decision of a district court that Plaintiff Patrick Russell, a 401(k) plan participant, had knowingly waived his right to assert an ERISA stock-drop claim based on, among other things, the alleged imprudence of maintaining an employer stock fund as an investment option.  Russell argued that the district court erred by … Continue Reading

Seventh Circuit: Terminated Employee’s Release Agreement Bars Pension Claim, ERISA’s Anti-Alienation Provision Does Not Apply

The Seventh Circuit dismissed a former employee’s claim for additional pension benefits after concluding that a release agreement he signed had waived any claims that arose prior to the signing of the release and his claim was not protected by ERISA’s anti-alienation provision. Hakim v. Accenture United States Pension Plan, No. 11-3438, 2013 WL 2249454 … Continue Reading
LexBlog