Irwin B. Schwabe Co. v. Commissioner
United States Tax Court
Petitioner's employees' pension plan, administered by a trust, was inaugurated in the year 1944. The plan was funded through the purchase from a mutual insurance company of individual level annual premium annuity or endowment policies on the lives of the employees. In the year 1946 one of petitioner's employees who was covered by the plan resigned her position and, in accordance with the provisions of the plan, forfeited all benefits thereunder.
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Petitioner's employees' pension plan, administered by a trust, was inaugurated in the year 1944. The plan was funded through the purchase from a mutual insurance company of individual level annual premium annuity or endowment policies on the lives of the employees. In the year 1946 one of petitioner's employees who was covered by the plan resigned her position and, in accordance with the provisions of the plan, forfeited all benefits thereunder. Her policy was canceled and the cash surrender value was paid to the trustees. Held, that the clear and unambiguous provisions of the pension plan…
1Opinion of the Court
Irwin B. Schwabe Company, Inc., Petitioner, v. Commissioner of Internal Revenue, Respondent
Irwin B. Schwabe Co. v. Commissioner
Docket No. 26715
United States Tax Court
17 T.C. 1215; 1952 U.S. Tax Ct. LEXIS 286;
January 24, 1952, Promulgated
Decision will be entered under Rule 50.
Petitioner's employees' pension plan, administered by a trust, was inaugurated in the year 1944. The plan was funded through the purchase from a mutual insurance company of individual level annual premium annuity or endowment policies on the lives of the employees. In the year 1946 one of petitioner's employees who was…
2Cases cited2 opinions
- Wooster Rubber Co. v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1951
- Irwin B. Schwabe Co. v. CommissionerUnited States Tax Court · 1952