Union Carbide Corp. v. Offerman

WAINWRIGHT, Justice.

Union Carbide Corporation (“Union Carbide”) is chartered under the laws of the State of New York, having its principal place of business in Danbury, Connecticut. Union Carbide manufactures and sells alloys, chemicals, industrial gases, and plastics. A portion of this business is administered in North Carolina.

Since 1951, Union Carbide has maintained and is the sponsor of a pension plan for its employees. This plan is a qualified plan under the applicable Internal Revenue Code provisions.Nee 26 U.S.C. § 401(a) (1982 & Supp. 1985). The pension plan defined benefits to be…