Summary
The Supreme Court upheld the Pension Benefit Guaranty Corporation's (PBGC) restoration of LTV Corporation's terminated pension plans under ERISA § 4047. The Court rejected LTV's "follow the rules" strategy, which shifted pension liabilities to the federal insurance system while the company negotiated new benefits. Applying the arbitrary and capricious standard, the Court found the PBGC properly exercised its discretion to prevent abuse of the termination insurance program. This decision affirmed the PBGC's broad authority to restore plans when a termination would undermine the insurance system.
Disposition
cert_granted
Cases Cited (0)
No outbound citations extracted.
Cited In (0)
No citing cases on record yet.
Court Document
Open PDFLoading document…