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IN RE W.S. DICKEY CLAY MFG. COMPANY — LOCAL 4359

No. 81-2366.

720 F.2d 25 (1983)

In re W.S. DICKEY CLAY MANUFACTURING COMPANY — LOCAL 4359 UNITED STEELWORKERS OF AMERICA PENSION PLAN. PENSION BENEFIT GUARANTY CORPORATION, Applicant-Appellee, v. W.S. DICKEY CLAY MANUFACTURING COMPANY, INC., Respondent-Appellant.

United States Court of Appeals, Tenth Circuit.

October 31, 1983.

Attorney(s) appearing for the Case

Michael F. Delaney of Spencer, Fane, Britt & Browne, Kansas City, Mo. (Jack L. Whitacre and Robert B. Terry of Spencer, Fane, Britt & Browne, Kansas City, Mo., and J.D. Lysaught of Weeks, Thomas, Lysaught, Bingham & Mustain, Overland Park, Kan., with him on brief), for respondent-appellant.

Stephen D. Schreiber, Trial Attorney, Pension Benefit Guar. Corp., Washington, D.C. (Henry Rose, General Counsel, James N. Dulcan, Asst. General Counsel, Washington, D.C., with him on brief), for applicant-appellee.

Before SETH, Chief Judge, and BREITENSTEIN and HOLLOWAY, Circuit Judges.

SETH, Chief Judge.

In 1969, W.S. Dickey Clay Manufacturing Company, Inc. entered into a collective bargaining agreement with the United Steelworkers of America which established a pension plan agreement. The pension plan was funded by contributions made by Dickey Clay in proportion to the number of hours actually worked by the plan's participants. Benefits were determined by multiplying a participant's years of continuous service by a given dollar amount called a...

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