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PAYONK v. HMW INDUSTRIES, INC.

No. 88-1577.

883 F.2d 221 (1989)

PAYONK, Paul L., and Hamilton, John J., Individually and on behalf of all others similarly situated, Appellants, v. HMW INDUSTRIES, INC., Hamilton Technology, Inc., Clabir Corp., Bernhardt, Kenneth R., Strantz, Gloria G., and Clarke, Henry D., Jr. Appeal of Paul L. PAYONK and John James Hamilton, Individually and on behalf of all others similarly situated, Appellants.

United States Court of Appeals, Third Circuit.

Decided August 23, 1989.

Rehearing and Rehearing Denied September 27, 1989.

Attorney(s) appearing for the Case

Christopher W. Mattson, David R. Keller (Argued), Michael A. Moore, Barley, Snyder, Cooper & Barber, Lancaster, Pa., for appellants.

Jeffrey S. Saltz (Argued), Wolf, Block, Schorr and Solis-Cohen, Philadelphia, Pa., for appellees.

Before STAPLETON, MANSMANN and GARTH, Circuit Judges.

Rehearing and Rehearing In Banc Denied September 27, 1989.

OPINION ANNOUNCING THE JUDGMENT OF THE COURT

GARTH, Circuit Judge:

This appeal, which arises from two corporate reorganizations and the consequent termination of a pension plan, requires us to answer the question: do pension plan fiduciaries have a duty under § 404 (29 U.S.C. § 1104) and § 406 (29 U.S.C. § 1106) of the Employee's Retirement Income Security Act (ERISA)...

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