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Category: ERISA

Widow’s Release Of Claims Against Deceased Husband’s Estate Did Not Extinguish Her Right To His Pension Account

Widow’s Release Of Claims Against Deceased Husband’s Estate Did Not Extinguish Her Right To His Pension Account

It makes me sad to learn when heirs fight over a decedent’s assets, especially when it involves a widow’s surviving spouse pension benefits, as occurred in Goins v. Tona L. Goins & Nat’l Elec. Annuity Plan, No. 16-cv-01281, 2017 U.S. Dist. LEXIS 71387 (S.D. Ill. May 10, 2017). In Goins, Robert Goins passed away and was survived by his wife Tona Goins and two adult sons who were Tona’s step sons. Sometime after Robert’s death, a dispute arose between Tona…

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Underfunded Pension Plans; The PBGC; And What The Heck Got Us Into This Pension Funding Mess?

Underfunded Pension Plans; The PBGC; And What The Heck Got Us Into This Pension Funding Mess?

You would need to be asleep at the wheel to not know we are in a pension funding crisis. Hardly a day goes by when we do not hear about a pension plan that reduces or freezes future benefit accruals to lessen its funding shortfall, or that is predicted to become insolvent in the foreseeable future notwithstanding such benefit adjustments. Participants in these underfunded plans naturally worry that they will lose their hard-earned pension benefits. If the plan is in…

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