Brasley v. Fearless Farris Service Stations, Inc. et al

Filing 310

ORDER re 305 Motion. After a de novo review, the Court adopts Mr. Husss Second Report and Recommendation as its findings and conclusions. The Court concurs that the lump sum benefit payments shall be calculated in accordance with the rates i n Code Section 417(e). The amounts shown in Exhibits C, D and E to the 9/22/2014 affidavit of Michelle M. Soderland shall be used as the final lump sum amounts. Signed by Judge B. Lynn Winmill. (caused to be mailed to non Registered Participants at the addresses listed on the Notice of Electronic Filing (NEF) by (cjs)

UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF IDAHO
EDWARD BRASLEY, et. al,
Plaintiffs,
v.

Case No. 1:08-cv-00173-BLW
ORDER

FEARLESS FARRIS SERVICE STATIONS,
INC., et al.,
Defendants.

The Court appointed Special Master Huss to provide the Court with a Report and
Recommendation regarding the proper interest rate to be used in calculating lump sum
distribution amounts, and what those final lump sum amounts should be. Mr. Huss has
provided the Court with that report. Dkt. 303. The Court has reviewed the report de novo.
Upon review of the report, the Court will adopt the report as its own finding. Mr.
Huss explained that when he issued his earlier report, which the Court adopted, it was his
intent that lump sum payments of benefits due under the 1995 Plan would be calculated
consistently with the calculations of such benefits previously submitted by Mr. Turpin in
his affidavits. Second Huss Report, p. 4, Dkt. 303. Mr. Huss noted that Mr. Turpin’s prior
Order – page 1

calculations of minimum lump sum benefits were made in accordance with the interest
rates required under Code Section 417( e). Id. Mr. Huss then explained that his report
specifically referenced Appendix F to the actuarial valuation report attached to Mr.
Turpin’s 25 August 12, 2013 affidavit, which provided an estimate of lump sum
distributions for certain of the Plaintiffs based upon an assumed plan termination date of
August 1, 2013 and determined in accordance with Code Section 417( e). Id. Thus, it was
Mr. Huss’s intent that lump sum benefit payments be calculated in accordance with the
interest rates specified in Code Section 417(e) for minimum lump sum distributions. The
Court concurs that the lump sum benefit payments be calculated in accordance with the
rates in Code Section 417(e).
Additionally, the Court asked Mr. Huss to recommend what the final lump sum
amounts should be. He recommended that they be the amounts shown in Exhibits C, D
and E to the September 22, 2014 affidavit of Michelle M. Soderland because they most
closely correspond to the intent of his earlier report, which the Court adopted. Dkt. 295.
The Court agrees and will adopt these amounts as the final lump sum amounts.
ORDER
IT IS ORDERED:
1.

After a de novo review, the Court adopts Mr. Huss’s Second Report and
Recommendation as its findings and conclusions. The Court concurs that
the lump sum benefit payments shall be calculated in accordance with the
rates in Code Section 417(e). The amounts shown in Exhibits C, D and E to

Order – page 2

the September 22, 2014 affidavit of Michelle M. Soderland shall be used as
the final lump sum amounts.

DATED: July 13, 2015

_________________________
B. Lynn Winmill
Chief Judge
United States District Court

Order – page 3