(Download) "Sea Ray Employees Stock Ownership and Profit Sharing Plan v. Robinson" by Sixth Circuit U.S. Court of Appeals ~ Book PDF Kindle ePub Free
eBook details
- Title: Sea Ray Employees Stock Ownership and Profit Sharing Plan v. Robinson
- Author : Sixth Circuit U.S. Court of Appeals
- Release Date : January 14, 1999
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 85 KB
Description
At issue in this appeal is whether the layoffs at Sea Ray Boats, Inc. between 1989 and 1991 constituted a partial termination of the companys stock ownership and profit sharing plan ("Plan"), governed by the Employee Retirement Income Security Act of 1974 ("ERISA"), 29 U.S.C. §Â§ 1001-1461. Sea Rays administrative committee ("Committee") concluded that the company had not terminated the Plan. Upon review, the district court granted summary judgment in favor of the Committee and a class of Sea Ray employees ("Class II") who are current or fully vested participants in the Plan and their beneficiaries. Another class of former Sea Ray employees ("Class I"), non-vested former participants in the Plan and their beneficiaries, contends that the district court erred in applying an arbitrary and capricious rather than a de novo standard of review of the Committees decision. Class I also contends that the Committee erred in determining that a partial termination of the Plan had not occurred. For the reasons that follow, we affirm the judgment of the district court.
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