RBC’s Deferred Compensation Plan Could Be ERISA-Exempt Top-Hat Plan, Court Rules

Whether a deferred compensation plan sponsored by RBC Capital Markets Corp. is a top-hat plan exempt from some provisions of ERISA will be settled at trial and not through summary judgment, a federal judge in Texas has ruled (Tolbert v. RBC Capital Mkts. Corp., 2015 BL 122503, S.D. Tex., H-11-0107, 4/28/15).

The April 28 decision by Judge Keith P. Ellison of the U.S. District Court for the Southern District of Texas denied summary judgment to both sides, finding that genuine issues of material fact exist as to whether the plan qualifies as a top-hat plan and is ...