Administrative Committee of the Sea Ray Employees' Stock Ownership & Profit Sharing Plan v. Robinson
Court of Appeals for the Sixth Circuit
1Opinion of the Court
COLE, Circuit Judge.
At issue in this appeal is whether the layoffs at Sea Ray Boats, Inc. between 1989 and 1991 constituted a partial termination of the company’s stock ownership and profit sharing plan (“Plan”), governed by the Employee Retirement Income Security Act of 1974 (“ERISA”), 29 U.S.C. §§ 1001-1461. Sea Ray’s administrative committee (“Committee”) concluded that the company had not terminated the Plan. Upon review, the district court granted summary judgment in favor of the Committee and a class of Sea Ray employees (“Class II”) who are current or fully vested participants in the…
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