Caterpillar Tractor Co. v. Commissioner
United States Tax Court
Under petitioner's noncontributory pension plan, a retirement benefit is not payable to an employee upon retirement unless he has at least 10 years of credited service at that time. Held, the plan fails to meet the requirements of sec. 411(a), I.R.C. 1954, and, therefore the trusts established thereunder are not qualified trusts under sec. 401(a).
1Opinion of the Court
OPINION
Tannenwald, Judge:
Petitioner seeks a declaratory judgment pursuant to section 74761 that its noncontributory pension plan, as amended December 17, 1976, qualifies under section 401(a).
The case was submitted under Rule 122, Tax Court Rules of Practice and Procedure, on the basis of the pleadings and the facts set forth in the administrative record.
Petitioner is a corporation with its principal office in Peoria, Ill., at the time of filing the petition herein. At all pertinent times, its business has included the manufacture and sale of earth moving and industrial equipment.
Some time…
2Cases cited4 opinions
- Guest v. CommissionerUnited States Tax Court · 1979
- Redding v. CommissionerUnited States Tax Court · 1979
- Estate of Saia v. CommissionerUnited States Tax Court · 1974
- Anderson v. CommissionerCourt of Appeals for the Second Circuit · 1946
3Cited by8 opinions
- Horvath v. CommissionerUnited States Tax Court · 1982
- Duchow v. New York State Teamsters Conference Pension & Retirement FundCourt of Appeals for the Second Circuit · 1982
- Duchow v. New York State Teamsters Conference Pension And Retirement FundCourt of Appeals for the Second Circuit · 1982
- Stevens v. CommissionerUnited States Tax Court · 1985
- Board of Trustees v. CommissionerUnited States Tax Court · 1981
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