Tuesday, January 11, 2011

Long Term Incentive Compensation Plan is Not Exempt - 9th Cir. 2011 - MARIA O. SEGOVIA v. E. LYNN SCHOENMANN

The 9th Circuit in an unpublished decision held that a long term incentive compensation plan which did not comply with ERISA is not exempt.  The practical finding was that if a plan is not intended to nor designed for retirement purposes, then the plan is likely not exempt.  Something to consider for trustees and debtors!

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