6th Circuit: Company Officers Who Don't Control Assets Are Not ERISA Fiduciaries

CINCINNATI - The owners of a company that was required to make contributions to multiemployer pension and welfare funds pursuant to a collective bargaining agreement (CBA) were not fiduciaries and, therefore, could not be held personally liable for unpaid contributions, the Sixth Circuit U.S. Court of Appeals affirmed May 29 in an unpublished opinion (Sheet Metal Local 98 Pension Fund, et al. v. AirTab, Inc., et al., No. 09-3121, 6th Cir.; 2012 U.S. App. LEXIS 10958). Full story on lexis.com