The Travelers Insurance Companies v. Fountain City Federal Credit Union, a Corporation

We AFFIRM the district court’s judgment permanently enjoining appellant Fountain City Federal Credit Union from garnishing or attaching any proceeds of the pension plan at issue in this case. Because we affirm on the basis of the district court’s memorandum of December 16, 1988, we reprint that opinion as an appendix below.

APPENDIX

MEMORANDUM OPINION

CLEMON, District Judge:

This case presents the issue of whether the non-alienability provision of the Employee Retirement Income Security Act (ERISA), 29 U.S.C. § 1056(d), applies to the proceeds of an employee pension plan that is being terminated.…