The plaintiffs and the Plan Administrator brought a motion in a class proceeding regarding the wind-up of a pension plan.
They sought approval for a plan to use settlement funds recovered from a defaulting defendant to search for unlocated pension plan members, prioritizing those with the largest entitlements, and to pay any remaining unclaimed funds into court.
The court approved the plan, finding it sensible and fair, and ordered that the Plan Administrator be discharged from its obligations under the Pension Benefits Act upon payment of the remaining funds into court.
