Plumbers & Steamfitters, Local Union 530 Annuity Fund v. Shaffer

*955OPINION

WEBER, Chief Judge.

The Plaintiffs in this declaratory judgment action are the trustees of the pension plan of Local # 530 of the Plumbers and Steamfitters union. The Plaintiffs allege that, at a meeting on March 28, 1974 (hereinafter “March 28 meeting”), they resolved to terminate the pension plan on April 30, 1974 and to distribute the plan’s assets to its four groups of participants in the form of annuities according to an amended group priority ranking. Sometime after April 30, 1974, the Plaintiffs transferred the funds resulting from the liquidation of the plan’s assets to the…