JONES LAUGHLIN RETIREMENT PLAN v. LTV CORP

Citation Codes

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citation codes

Docket Number

No. 1250, Docket 87-6104.

Attorney(S)

R.A. King, Pittsburgh, Pa. (Kenneth R. Bruce, Buchanan Ingersoll, Pittsburgh, Pa., Stuart Cotton, Mound Cotton Wollan, New York City, of counsel), for appellants Miller and Shaffer. Frank H. McCulloch, Sp. Counsel, Pension Benefit Guar. Corp., Washington, D.C. (Gary M. Ford, Gen. Counsel, Lincoln Weed, Pension Benefit Guar. Corp., Washington, D.C., of counsel), for plaintiff-appellee Pension Benefit Guar. Corp. Frank Cummings, Washington, D.C. (LeBoeuf, Lamb, Leiby MacRae, Washington, D.C., of counsel), for defendant-appellee LTV Corp.

Judges

Ellsworth Alfred Van Graafeiland
Thomas Joseph Meskill
Richard J. Cardamone

Acts

Labor — Pension Benefit Guaranty Corporation — Employee Retirement Income Security Program — Plan Termination Insurance — Definitions

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IN RE JONES LAUGHLIN RETIREMENT PLAN, AND PENSION BENEFIT GUARANTY CORPORATION, PLAINTIFFS-APPELLEES, v. THE LTV CORPORATION, AS ADMINISTRATOR OF THE JONES LAUGHLIN RETIREMENT PLAN, DEFENDANT-APPELLEE, APPEAL OF DAVID H. MILLER AND WILLIAM W. SHAFFER.

PER CURIAM:

David Miller and William Shaffer appeal from a judgment entered in the United States District Court for the Southern District of New York, Owen, J., which denied their motion to stay and/or vacate a Consent Order previously signed by Judge Owen. The Consent Order was submitted to Judge Owen by The LTV Corporation and LTV Steel Company, the administrators of the Jones Laughlin Retirement Plan, and the Pension Benefit Guaranty Corporation (PBGC). The Consent Order appointed PBGC to serve as statutory trustee of the plan and terminated it.

Appellants, participants in the plan, complain that, by approving the termination without affording them an opportunity to challenge the termination decision, the district court violated the notice and hearing provisions set forth in Title IV of the Employee Retirement Income Security Act of 1974, 29 U.S.C.A. §§ 1301-1461 (West 1985 Supp. 1987) (ERISA), as amended by the Single-Employer Pension Plan Amendments Act of 1986, Pub.L. No. 99-272, Title XI (1986).

In a companion appeal, we rejected the claim that ERISA entitles plan participants to pre-termination notice and hearings where, as here, PBGC and the plan administrator agree that a plan must be terminated. See In re: Jones Laughlin Hourly Pension Plan, 824 F.2d 197 (2d Cir. 1987). That decision controls this case as well.

Judgment affirmed.

IN RE JONES LAUGHLIN RETIREMENT PLAN, AND PENSION BENEFIT GUARANTY CORPORATION, PLAINTIFFS-APPELLEES, v. THE LTV CORPORATION, AS ADMINISTRATOR OF THE JONES LAUGHLIN RETIREMENT PLAN, DEFENDANT-APPELLEE, APPEAL OF DAVID H. MILLER AND WILLIAM W. SHAFFER.

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