Tag: Hughes Aircraft

Pension Plans: Supreme Court Restores Employer Discretion Over Surplus Assets

Because of the huge stock market gains in recent years, many defined benefit pension plans contain more assets than are needed to pay out benefits. Since 1997, however, a ruling from the federal appeals court that covers California has sharply limited employers’ discretion in how to use that “extra” money. But in a recent unanimous […]

Pension Plans: Billion Dollar Surplus Nightmare For Employer; How To Stay Legal

  If you have a defined benefit pension plan for your employees, thanks to stock market gains it may contain more money than you’ll need to pay out in benefits. But be careful before you use this “extra” money. One employer recently found there are strict rules about what you can and can’t do with […]

News Notes: Race Discrimination Claim Upheld, Damages Reduced

In 1994, we reported on the case of a black engineer and his supervisor who sued Hughes Aircraft. The engineer claimed he was denied promotions and raises because of his race. His supervisor charged that managers pressured him to fabricate negative performance reviews about the engineer, and when he refused to comply, turned him down […]