Legal Question in Investment Law in Ohio

If a Union shop has been mislead regarding their pension package , do they have

Recently a majority of members in our Union shop have been made aware that the current pension plan that our company contributes to, a plan set-up by an affiliate of our Union Hall, will only pay a very limited amount of our pension ( 50% for 5 years )to a surviving spouse in the event of the members death. Also, this company that handles our pension refuses to agree to a contract with our employers unless they offer us a minumum of a 5 year contract. Do we have any legal rights to demand a change in our pension plan to allow us either a buy-out option, i.e. a % of what we're entitled to up front upon retirement, or transfer funds already vested into a different plan, i.e. a 401K? Our Union Hall tells us that we can't do either !


Asked on 9/16/03, 5:11 pm

1 Answer from Attorneys
Phil Sever The Sever Law Firm

Re: If a Union shop has been mislead regarding their pension package , do they h

This is a difficult question to answer. In what way was the union shop misled? Typically, misrepresentations that are relied upon to the detriment of a party or organization are actionable. However, to determine the proper course for your question I will need you to explain yourself in more detail.

Please call or email.

Phil Sever

440-230-1606

Phil Sever

440-230-1606

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Answered on 9/16/03, 5:28 pm


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