Taipei Metro App. 203(a)(1)(2), 29 U.S.C. 1053(a)(1)(2). In August 1992 Hughes Aircraft completed its purchase of General Dynamics' missile businesses for $450 million. The Pension Benefit Guaranty Corporation insures private-sector traditional pension plans and pays out benefits up to certain limits if the plan fails. Distinguishing Lockheed Corp. v. Spink, 517 U.S. 882 (1996), as concerning a plan funded solely by employer contributions, the majority held that the act of amending the Plan triggered ERISAs fiduciary provisions. The Plan obligations created by these amendments constitute the only use of the Plans assets other than paying the pre-existing obligations under the original contributory benefit structure. The first step to tracking down your pension is reaching out to your former company or its successor. Hughes Aircraft Company v. Jacobson | Oyez Advancement opportunities & recognition. Certainly, respondents do not contend that they are responsible for the creation of the Plan. He reasoned that an amendment to a pre-existing plan does not affect the availability of the plans pool of assets for funding pre-existing obligations and cannot be characterized as a termination; interpreted Spink to stand for the proposition that the act of amending a plan does not trigger fiduciary duties; and observed that employees who contribute to a defined benefit plan do not have an interest in that plans surplus. Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. EPIC published the multi-volume Handbook of Electronic Materials as public documents.[20]. As we noted in Spink. [8] Hughes retained a small cadre of engineers under his personal control as the Hughes Tool Company Aircraft Division, which initially operated from the same Culver City complex as Hughes Aircraft, despite being under a separate corporate umbrella. Hughes Helicopters - Wikipedia Hughes Aircraft Company Pension is a Corporate Pension located in Los Angeles, CA United States, North America. Amenities at each station include attendants, ticket machines, and toilets. Given this accumulated contribution floor, plan members generally have a nonforfeitable right only to their accrued benefit, so that a plans actual investment experience does not affect their statutory entitlement.
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