Legal Opinion
Resolution Trust Corp. v. Financial Institutions Retirement Fund
Court of Appeals for the Tenth Circuit
Decided December 28, 1995No. 95-5016PublishedCited by 3 opinions
1Opinion of the Court
JOHN P. MOORE, Circuit Judge.
The issue presented by this ease is whether the Resolution Trust Corporation, as successor to a failed thrift institution, can recover an actuarially determined sum known as “Future Employer Contribution Offsets” (FECO) attributable to the failed thrift as an employer in a multiple-employer pension benefit plan under ERISA The district court treated the FECO as discrete funds and awarded them to RTC under a common law unjust enrichment theory. We hold the award of the judgment to the RTC violated the exclusive benefit rule of ERISA and reverse.
Defendant, Financial…
2Cases cited16 opinions
- Franchise Tax Bd. of Cal. v. Construction Laborers Vacation Trust for Southern Cal.Supreme Court of the United States · 1983
- Massachusetts Mutual Life Insurance v. RussellSupreme Court of the United States · 1985
- Patterson v. ShumateSupreme Court of the United States · 1992
- Nachman Corp. v. Pension Benefit Guaranty CorporationSupreme Court of the United States · 1980
- Guidry v. Sheet Metal Workers National Pension FundSupreme Court of the United States · 1990
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3Cited by3 opinions
- Buchanan v. Reliance Standard Life InsuranceDistrict Court, D. Kansas · 1998
- Wagner v. Ultima Homes, Inc. (In re Vaughan Co. Realtors)United States Bankruptcy Court, D. New Mexico · 2013
- 19 Employee Benefits Cas. 2387, Pens. Plan Guide P 23916g Resolution Trust Corporation, as Receiver of Sooner Federal Savings Association v. Financial Institutions Retirement Fund, in Its Capacities as a Pension Plan and Trust and as Plan Sponsor of the Comprehensive Retirement Program the Bank of New York, as Trustee of the Comprehensive Retirement ProgramCourt of Appeals for the Tenth Circuit · 1995