Paneccasio v. Unisource Worldwide, Inc.
Court of Appeals for the Second Circuit
1Opinion of the Court
DENNIS JACOBS, Chief Judge:
Plaintiff Eugene Paneccasio (“Panecca-sio”) elected to participate in his company’s deferred compensation plan at a level designed to provide him, once fully vested, with a $15,000 annuity for ten years following his retirement no earlier than age 65, plus life insurance. The plan was subject to termination, at the company’s election, on payment of certain sums to participants depending on whether they were or were not yet receiving benefits. In 1994, when Paneccasio was 57, he was offered an early retirement package, which he accepted, and which granted accelerated…
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