Pension benefits - integration - setoff
Article Abstract:
Current and former sales agents of the Knights of Columbus sued the Knights Pension Plan for its practice of offsetting renewal commissions from the amount of the agents' fixed monthly pension benefits. The basis for the case filed by the agents was their claim that integrating commissions violated the nonforfeitability clause of the Employee Retirement Income Security Act. The case was dismissed because the court ruled that the agents were unable to come up with the required elements to support their use of the estoppel theory.
Publication Name: Benefits Quarterly
Subject: Human resources and labor relations
ISSN: 8756-1263
Year: 1999
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Insurance in qualified plans - selected topics
Article Abstract:
Qualified benefit plan fiduciaries should understand the complex rules and regulations governing their plans' investments in life insurance to avoid disqualifying the plans. Many advantages and disadvantages should be weighed before investment in pension, stock bonus, or profit sharing plans, including weighing large and quick death benefits against current taxation to employees. Fiduciaries should use caution not to violate the IRS rule requiring insurance to be incidental to the provision of qualified benefits.
Publication Name: The Journal of Pension Planning & Compliance
Subject: Human resources and labor relations
ISSN: 0148-2181
Year: 1997
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