Former Meyer Corp. Executive Loses $2.5 Million Bonus Lawsuit

July 21, 2021, 2:32 PM

Cookware manufacturer Meyer Corp. once again defeated a former executive’s lawsuit seeking a $2.5 million payout, when a California federal judge ruled that a bonus program wasn’t an ERISA-governed retirement plan.

The bonus program’s primary purpose is to reward employees and encourage them to stay with the company, and it’s funded by employee-owned annuities, Judge Jeffrey S. White of the U.S. District Court for the Northern District of California said Tuesday. The program’s therefore not a retirement plan covered by the Employee Retirement Income Security Act, and plaintiff Dean Krause can’t maintain a lawsuit claiming he was forced to forfeit ...

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