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IN RE PENSION PLAN FOR EMP. OF BROADWAY MAINT.

No. 81 Civ. 3958 (KTD).

547 F.Supp. 629 (1982)

In re PENSION PLAN FOR EMPLOYEES OF BROADWAY MAINTENANCE CORPORATION. PENSION BENEFIT GUARANTY CORPORATION, Plaintiff, v. BROADWAY MAINTENANCE CORPORATION, Defendant.

United States District Court, S. D. New York.

September 16, 1982.

Attorney(s) appearing for the Case

Pension Benefit Guaranty Corp., Washington, D.C. (Henry Rose, James N. Dulcan, Washington, D.C., Lawrence F. Landgraff, Peter R. Robinson, of counsel), Regional Sol. of Labor, New York City (Francis V. LaRuffa, New York City, of counsel), for plaintiff.

Shea & Gould, New York City (Remy J. Ferrario, New York City, of counsel), for defendant.

OPINION

KEVIN THOMAS DUFFY, District Judge.

In 1974, Congress passed the Employee Retirement Income Security Act ("ERISA"), 29 U.S.C. §§ 1001 et seq. to provide an efficient and equitable mechanism for the termination of employee pension plans. Before the enactment of ERISA, pension plans were subject to neglect and abuse which resulted in injury to innocent employees. Unfortunately, neglect...

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