Daily Labor Report®

Meyer Corp. Beats $2.5 Million Bonus Suit by Former Executive

Jan. 13, 2021, 5:14 PM

Cookware manufacturer Meyer Corp. defeated a lawsuit by a former executive who said he was wrongly denied $2.5 million under an executive bonus agreement, when a California federal judge ruled that the agreement wasn’t a benefit plan governed by the Employee Retirement Income Security Act.

Dean Krause, who said he was wrongly blocked from taking a distribution from the annuity funded by his Meyer Corp. bonus arrangement, failed to show that the arrangement provided for the deferral of income or involved an ongoing administrative scheme, Judge Jeffrey S. White of the U.S. District Court for the Northern District of California...

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