Bigger v. American Commercial Lines, Inc.

WOLLMAN, Circuit Judge.

Participants and beneficiaries of a spu-noff pension plan appeal the district court’s holding that an employer did not breach a fiduciary duty under the Employee Retirement Income Security Act (ERISA), 29 U.S. C. § 1001 et seq., by failing to distribute to the spunoff plan any surplus assets from an original defined benefit plan. The dis*1343trict court1 found that ERISA did not require the employer to transfer surplus assets because the spunoff plan was fully funded within the meaning of 29 U.S.C. § 1058.2 We affirm.

I. Background

This dispute arose when one pension plan…