Rahm v. Halpin

B.D. Parker, Jr., Circuit Judge:

This appeal presents a question of law: when do an employer’s contributions to an employee benefit plan become “assets” under ERISA — when the contributions become due, or only after they are paid? We hold that, in the absence of provisions to the contrary in the relevant plan documents, unpaid contributions are not assets of the plan.

BACKGROUND

The relevant facts are undisputed. Debtor-Appellee William C. Halpin, Jr. was the President and sole shareholder of Halpin Mechanical & Electrical, Inc. (“HM & E”), an electrical contracting business. HM & E entered into…