Innes v. Pension Committee of Barclays Bank, PLC

Filing 42

MEMORANDUM OPINION. Signed by District Judge Glen E. Conrad on 1/10/17. (hnw)

CL S OFFI U. DI . COURT
ERK'
CE & ST
AT ROANOKE,
VA
FI ED
L

I THE UNI
N
TED STATES DI
STRI COURT
CT
FOR TH E W ESTERN D I
STRI OF VI GN A
CT
R
CHA RLOTTESV I
LLE D I I ON
V SI

J 12 2 7
Ad
2
J
ULW
BY:

U

CLERK

CA RO L FORESTER PVNES,

Ci lAc i N o.3:5CV0001
vi ton
1
8
Pl i if
antf,
M EM O M N DU M O PI I N
N O

BARCLAYS BANK PLC USA STAFF
PEN SI PLAN CO M M I
ON
TTEE 1

By: on. l n E.Corr d
H
Ge
la
Chi fUnied Stt Diti tJ
e
t
aes src udge

D e e nt
f nda .

Ca ol Forese I s fl d t s cvi a ton t r t Empl e Re ie e I m e
r
r t r nne ie hi i l c i mde he
oye
tr m nt nco

S c dt Ac o 1 7 (ER. A' , U. C. j1 01 1 61 Th c s i p e e tybeo et c u t
e u y t f 9 4 t I ' 29 S. j 0 - 4 . e a e s rs n l f r he o r
t S )

o t epa t s mo in f rs mmryj g n . Fo t ef l wi ra o s t ec u t l g a t h
n h ri ' to s o u
e
ud me t r h ol ng e s n ,h o r wil r n t e
o
mo in f rs mmmy j d me tfld b d f n a tBaca sBa k PLC US Sa fPe so Pln
to o u
u g n ie y e e d n rly n
A tf n i n a
i or umm y
Co te (h I M Ad n sr tr'o i ee d n ', a d d n t e moton f s ar
mmite te TI
miitao ' r t fn a f) n e y h
d

j g n fldb t panif
ud me t ie y he litf.
B ac ound
kzr

I
nnes wa e oyed by Baca Commecil Co o ain (% CC',a s i ay of
s mpl
rlys
r a m rto û
'
) ubsdir

Baca s dc n r o ain(%AC' a dBa ca sBa kPLC (Baca s' fo Ap i 1 1 8
r ly Ame a co p rto G
' n rly n
)
t rly ', rm rl , 9 1
l
)
t M ac 1 1 9 . OnFe nzr 28 1 9 ,
o rh , 9 4
b ay , 9 4 BCC wa s l t a asl t o TheCI Gr u C& T' .
s od o n f i e f
a
T o p CI '
)
Upon t s l ofBCC t CI Im e be me a e oye ofCI Sher mai d wih C1 untl
he ae
o T, l s ca
n mpl e
T.
e ne t T i
J 28,1
une
994.

lThe de e
f ndanti i r cty named i t compl nt The dockets lbe amended t r l tis
s ncore l
n he
ai .
hal
o efec t
cor ec nam e.
r t

Att tme oft s l ,l
he i
he a e nness r ed a t c e fna i lofi e ofBCC. I c
e v s he hi f i nc a fc r
n onneci
ton

wi tes l, h a d oh rsrire e u i s(h G
t h ae s e n t e el x c tve te C Ex c t Gr u ' rc ie ap y n
h
o
BCC e ui o p' e ev d a me t
ve
)
fom as c a poolo f ndsi t agg e t a
'
r
pe i l
f u n he r ga e mountof$3, 000, t i vi s r r ngi
500, wih ndi dual ha es a ng

fom $1 000t $685,
r
05, o
000. I 's r oft s ca pool(heç Pa f'wa $390,
nnes hae he pe il
t G
pool ymen ) s
000.

Th o l p e e ustst e c me e ' r c ito h so h rP o Pa me twee( )s c sf l
e n y rr q iie o a h mb rs e ep f i r e o l y n r 1 uc e su
c mplto o t s l t CI a d( )c n iu d e o me twihBCC tr u h tetmeo t e
o ein f he ae o T, n 2 o tn e mply n t
ho g h i f h
s l . Thediput i t sc ec nt r o whehe t Poo Pa e ti pe i bl unde t tnns
ae
s e n hi as e e s n
t r he l ym n s nsona e
r he e
oft a i a epe i pl n.
he pplc bl nson a
As a m e r o t BCC Exec i Gr
mbe f he
utve oup, l
nnes wa a pm i i nt i t
s
cpa n wo
Ba clys s or
r a -pons ed

pe i
nson

Baca s rc n r o ain
rly Ameia co p rto

pl ns:
a

(he
t

t
he

û
G
BAC

Re t t
saed

Reie e
tr m nt

Reie n
trme t

P1n'
a'
)

Pl n
a

f
or

ad
n

te
h

Baca s rc n r o ainReie n Ret rto Pln(h G trme t so ainPln' r
r ly Ameia co p rto t me t so ain a te û ie n Ret rto a 'o
r
Re
t a ' 2 Thepe i plns cfc l a is i t sc ei t Reie ntRet ai Pl
Tln'
)
nson a pe iialy t sue n hi as s he trme sorton an.
The Reieme Re t a i Pln wasdesgne t s e e t BAC Retr me Pln
tr nt sor ton a
i d o upplm nt he
ie nt a
a t pr vi r tr m e i ome be nd t m a m tm be i lmia ins s tby ERI . Se
nd o o de e ie nt nc
yo he xi l neft i t to e
SA
e
3
t es c o lgi lt m a i nd m nt
BRCLY000004. W ih r pe tt e i biiy, co putton a pay e ofbe ft ,a ve tng,
ne is nd si
t Re ie e Re t a i Pl n i op or t t c r pondi pr sonsoft BAC Re ie e
he tr m nt sor ton a nc
a es he ores
ng ovii
he
tr m nt
Pln. The Re ie e tRe t a i Pl n alo i or a e t a i sr tve s he e oft BAC
a
tr m n sor ton a s nc por t s he dm nita i c m
he

Re ie e tPln. I pr de t tt Pl n i t be o r t dunde t die to oft Pl n
tr m n a
t ovi s ha he a s o
pe a e
r he r c i n he a

2The eplnsha sncemer i ot Bar a Bank PLC USA St fPenson Pl andt Ba clys
s a
ve i
ged nt he clys
af
i
an
he r a
Bank PLC ReiementResorton Pln,r pectvey.
tr
t ai
a es i l

3Ciai st I
tton o I
BRCLY'aet t a mi srtv rc r s ppidbyt d fnd n ( ke No.1 - )
' r o he d nitaie e od u le he ee a t Doc t
2 1.

Ad nsrt r r fre t te ena t eReie n Co te )i a c r a ewihtea plc be
miitao (e erd o h r i s h trme t mmite n c o d nc t h p ia l
a nitai pr sonsoft BAC Re ie e Pl n,a t tt Pln Ad i sr t ' ç c son
dmi sr tve ovi i
he
tr m nt a nd ha he a
m nitaors t ii
de
i a m a tri vi t i e r t ton a a i a i oft sPln s lbe fnala bi ng.
n ny te nvol ng he nt p e ai nd pplc ton hi a hal
i nd ndi '
'

BRCLY000007. Addto ly,unde j 9. oft BAC Reieme Pln,whih i i r aed
iinal
r 7 he
tr nt a
c s ncoport

it t e Reie n Re trto Pln te Pln Ad nsrt r (e erd t t een a t e
no h tr me t soain a , h a
miitao rf re o h r i s h
Pe in Th it mmite i g a td lh e cusverg t p we a dsr to t itr rta y
nso / rf Co te ) s ' n e l e x l i ih , o r nd ic ein o n ep e n
r
t
a a 1pr sons oft Pl n a t de e ne e i biiy f be ft unde t Pl n,a t
nd 1 ovii
he a nd o t nni lgi lt or neis
r he a nd o

d tnn n a1 u sinso f c t t yaiet ee n e l ' BRCLY0 0 9
ee i e 1 q e to f a tha ma rs h r u d r.'
l
0 0 3.
The pr sons g r ng t a o mt of be is pa bl t pa tcpa s t r t
ovii
ove ni he m t
neft ya e o rii nt mde he
Re ie e t Re t r ton Pln i or a e by r f r nc pr vii r lt t t c l ulton of
tr m n
so ai
a nc por t
e e e e o sons e aed o he a c a i
pe i be ft unde t BAC Reie
nson ne is
r he
tr mentPln. Se BRCLY000005- I t n,t be ft
a
e
6. n ur he ne is

pa bl t
ya e mdert BAC Re ie e Pln a e c l a e wih r f r nc t t tpl n' de i ton of
he
tr m nt a r acult d t e e e e o ha a s fnii
tcompe ai ' Tha defnii wa a nde i 199 t yea sprort t s l ofBCC t
ç
ns ton.
'
t i ton s me d n
2, wo r i o he ae
o
CI The a ndm e pr de i pe tne pa t a f l w s
T.
me
nt ovi d, n ri nt r, s olo :
Compe a i mea , oranyEmpl ye ,t bas pa s lr orwa pa dt hi
ns ton
ns f
o e he e y, aa y
ges i o m
byt Empl r pl ove tme,c
he
oye , us ri
omm isons bo e pa dt ough t e oft
s i , nus s i hr
he nd he
c l nda ye ri whih hi Acc ue Be t i de em i M a
a e r a n c s r d nek s t r ned, nage ntI ntve
me nce i

Pa me t (x e ts c pa me t ma ed rng 1 8 ) icu ig s lr r d cin
y n s e c p u h y n s d u i 9 3 , n ldn aay e u to
n u t ma ep ru n t Se to 401k) Se to 1 a d S cin 1 9, u s al
mo n s d u s a t o cin ( , cin 25 n e to 2 b t h l
not i l
nc ude s ve a
e r nce pa sa pa or r t nton i e i , diecor f es
y, t y- y
e e i nc ntves r t s e ,
ma eme i ntve pa e s whi h we e de e r d purua t a de e r d
nag nt nce i
ym nt
c
r fre
s nt o
fre
c
ompe a i e e ton by t Empl e or a n ount c rbu ed t t
ns ton l c i
he
oye ,
ny m
s onti t o he
Empl ye pui ua t t s Pln or a ot r be ft pl n or pr n o t
o e s nt o hi a
ny he ne i a
ogr m f he

Empl r(xc ptveasheei a
oye e e i
r n bovesi ae .
tpultd)
BRCLY000
245. I J y of 1
n ul
994,t BAC Retr me Pl n wa f rhe ame d t m a cea
he
ie nt a
s u t r nde o ke l r

t tt PoolPa nt we eno pe i bl Se BRCLY000024 (û f tve a ofJ y 26,
ha he
yme s r t nsona e. e
E eci s ul
Ef
1
994, n mtr evedby aPa tcpa a s cilpa sa pa ors ve a epa i l ng,
no mot ec i
ri i nt s pe a y, t y y e r nc y, ncudi but

no lmie t a a
t i t d o, ny mountpad fo a pooloff
i r m ny
unds c e t d i co c i wih t s l of
r a e n nne ton t he a e

Ba ca Commeca Cor ai s lbei l i t de to ofAnn lCompensto '
r lys
ril porton, hal ncuded n he fniin
ua
ain.
).
I Ma o 1
n y f 994,J l Ama o,Bar l 'pe i n a i sr or s n Im e and o he f
om
t
cays nso dm nitat , e t l s
t r onne
r
BCC e c i l te s r ga di t i de e r ve td pe i be ks unde t Resaed
xe utves e tr e r ng her f red se
nson net
r he
tt

Re ie e Pln a t Re ie e Resor to Pln, l ngwih sa e e sco ai ngt be i
tr m nt a nd he tr m nt t ai n a a o
t tt m nt nt ni he neft
c lultonsf e h pln. The a
ac ai
or ac a
mountofç ot c
G al ompens ton' on whih t Resor ton Pln
t
ai '
c he t a i
a

be ft we e c c aed i ude t Pool Pa m e s r c i d by t e utve .
ne is
r alul t
ncl d he
y nt e e ve
he xec i s

BRCLY0001
84. l
nnes was a s d t t s woul r ceve a mont y be ft of $158 8
dvie ha he
d e i
hl ne i
, 5.4
pa e fo t Re t a i Pln,i a ton t a $ 80 58 mont y be i t rt Resaed
yabl r m he sor ton a n ddii o 2, 4.
hl neft mde he tt
Re ie e Pl n.
tr m nt a

Afe i wasd s ove ed t tt PoolPa e sha be n i ude i t pe i be ft
tr t
i c r ha he
ym nt d e ncl d n he nson ne i
cac ai ns t BCC e c i swe es ntû e s 'e tr co r ci t er r I 'G e s d'
lul to ,he
xe utve r e t vied'l te s r e tng he r o . nnes i vie '
r
r
lte ,da e Augus 8,1 4,o it t mont y be k unde t Reso ai Pln,a i t ad
e tr t d
t 99 m ted he
hl net
r he t r ton a nd nse

i iae ta Rth c re t leo geqRe tr to Plnb nei i t n un o $1 . wil
ndc td h t ll e u rn vau f h r so ain a e ft n he mo t f 0120 l
bepai i t f ofat all
d n he onn
ot ump s diti i c h- ' BRCLY0001 1
um srbuton as out'
85- 86.
l 1
n 996,t n m e
e
mber oft BCC Exe utve Gr fl d s ti t Unie Stt Ditit
s he
c i
oup ie ui n he t d a es src
Cour f t W e t m DititofNolh Ca olna,c le ng t dee m i ton t tt i Pool
t or he se
src
'
t r i ha lngi he t r na i ha he r
Pa e s w e e not pe i na e.
ym nt
r
ns o bl

Se Bovd v. Res a e R e i e e
e
ttd
tr m nt Pl n f
a
or

Baca s wrc n r o ain No 3:6 CV- 3 ( . N. 1 9 ) (h û y c s '
r lv An ia co p rto , . 9 - 00 41 W D. C. 9 6 te û d a e).
Bo
A lhough l
t
nnesw a nota pa t t t l w s t s w asde e dudng t c ls oft ltga i n
s
ry o he a ui, he
pos d
he otr e he ii t o

i J of1
n une
997. Durng he de ii I st s ii t ts wa a ke t be apl i ifi t
i
r poston, nne e tfed ha he s s d o
antf n he
lw s tbutma t tfna a decson'nott dos BRCLY000
a ui
de he ti ncil ii ' o
o.
200. I
nnese ai d t ts
xpl ne ha he

4

wasyo mge t n m a oft ot rBCC e c i s a t tGhepr e vaue ofany a tona
t r ha
ny he he
xe utve , nd ha û
t es nt l
ddii l

b neist g r dd t ra tteiv sme to t elg l e sfrt es i ' JJ
e ft o he) in'warn h n e t n f h e a f e o h ut' -.
l
a
On Augu t30, 3,t Ba clysPe i Se vceCe e s ntI
s
201 he r a
nson r i
nt r e nnesal te r r ng he
e tr ega di
r
pe i n be t optons aong wih t f
nso nek i , l
t he onnst ts woul ne t co plt t be n r cevi
ha he
d ed o m e e o gi e i ng

pa e se f tveDe mbe 1 201 4 Thelteri c t d t ts w a e il d t a $ ,804.
ym nt feci
ce r , 3.
e t ndi a e ha he s ntte o 2
58
m o hl be i t de t pr vi i of t Ba c a Ba PLC U . A .St f Pens on Pl n. I
nt y neft m r he o s ons he r l ys nk
S.
af
i
a
t

m a no m e ton ofa mont ybe ftunde t Re ie e Re t ai Pln.
de
ni
ny
hl ne i
r he tr m nt sor ton a
On Se e r20,201 I ,tuough c
pt mbe
3, nnes l
ouns l c t c e t Ba caysPe i Se v c
e , on a t d he r l
nson r i e
Ce e by lte a r que t co esoft BAC Re ie e Pl n a t Reie ntResor to
nt r e tr nd e sed pi
he
tr m nt a nd he tr me
t ain
Pln. I s as r que t a e a ton ofhe pe i be ft ,i udi a be
a
nne lo e sed n xplna i
r nson ne is ncl ng ny neft t r
s mde
t Re ie e Re t a i Pl n. Afe I
he tr m nt sor ton a
tr nnesf ie t r c vear pons t t lte , ra t ne
a ld o e ei
es e o he e tr he tor y
s nta s co lte t t Ba ca Pe i n Se vi Ce e i Ocobe of201 r ie a i t
e
e nd e tr o he r lys nso
r ce nt r n t r
3, et r tng he
r quessm a i t ea le lte .
e t de n he rir e tr
On N o mbe 22,201 I
ve r
3, nnes s itd he a ia i f r r tr m e be ft . l
ubm te r pplc ton o eie nt ne is nnes

i iae ta s ewa t x r sl r sr gn ja1lg l n e utberg t t qam h re t lme t
ndc td h t h s t p e sy e e v ig 1 e a a d q ia l ih s o li e ni e n
e
t
t t a tona be k due he unde t Re ie e Re t a i Pl ' Pl' Suppl t
o he ddii l net
r
r he tr m nt sor ton an.' .s
. o
Ad i sr tveR. Doc tNo.1 a 1
m nitai
, ke
6 t 8.
)

On M a c 5,201 I
rh
4, nnes fld s t unde ERI a l i i é a i,t tt name
ie ui
r
SA, legng, nt r la ha he
d
de e nt i opery f ie t pa be ft d undert Reie
f nda s mpr l al d o y ne is ue
he tr mentRe t a i Pl . Se
sor ton m&
e

I v. r l Bn PEC USA Stf Pe i Pln,No.3:4CV00008( . Va.201 . The
mws Ba cays nk
af nson a
1
W D.
4)
de e an s s eque l move t dim is t t c am t r Fe r lRul of Ci l Pr e ze
f nd t ubs nty
d o s s ha l i mde de a
e
vi oc dtr

4T e Baca s P n in S rie Ce tr i a tid p ry ta g roms cr i miitr la d
h rly e so evc ne s hr at h t efr et n nsei n
a
a
admi sr tveft tonson be l oft Bar a Ba PLC USA Stf Penson Pln Com mite.
nitai mci
haf he clys nk
af
l
a
te

1 ( () b s d i p r u o t p an i sfiu et e h u the a miitai rme is On
2b)6 , a e n a t p n he litY alr o x a s r d n srtve e d e .
De mbe 1 201 t c tgr nt d t de e
ce r , 4, he our a e he f ndant m oto az dimis d t ca e wihout
s' i n, ld s s e he s t

prj d c t alw tepanifteo p ru iyt s tsyt e h u to rq ie n . S eGa l
eu ie o lo h litf h p o tnt o aif he x a sin e ur me t e v e
v UntdPac lS 1 .I .40 F.d 2 2 2 6 (t Ci. 0 5 (A. ERI A wefr b nei pa
. i
e re e' .nc, 1 3 2 , 2 4h r 2 0 ) G 1 S
v
:1
la e e ft ln
pa tcpa mus bot purue a e us pln r m e e be or gani a e s t t f r l
ri i nt
t h
s nd xha t a e di s f e i ng cc s o he ede a

c t-'
ours'
l
Pror t t e r of t c ts m e a um opi on a o de ,l
i o he nty
he our'
mor nd
ni nd r r nnes s itd an
ubm te
a i a i f rbe tt unde t Re ie e Res o a i Pl n. By l te da e J nua y 26, 5,
pplc ton o nei s
r he tr m nt t r ton a
e tr td a r
201

t Pl n Ad i sr t dele I 'c am f r be t . I s doi t Pln Ad i sr t r
he a
m nita or ri d nnes l i o neks n o ng, he a
m nita o
e a ne i pe tne pa tasf l :
xpli d, n ri nt r, olows
On ora
boutFe u r 28,1
br a y
994,you r ce v a s cilpay e i t nmountof
e i ed pe a
m nt n he

$390,
000. Thi s cilpa m e wa e e sy paya e onl upon t s c sul
s pe a y nt s xpr s l
bl y
he uc es f
c
omplton oft s l ofyourempl yer Ba clys Comm e c a Co po ai n a
ei
he a e
o , r a
r i l r r to nd
wa ofe e t r t n you a a ke exe utve t i t cl i oft s e. Thi
s f r d o eai
s
y c i mtl he osng
he al
s
s c a pa ntalowa i e
pe i l yme s s ntndedt i ntyo t c rbut f l t t s c s u
o nce
u o onti e uly o he uc es f l
cl i oft s eofyoure oye .
osng he al
mpl r
The Pl n' defnii ofpe i bl c
a s i ton
nsona e ompe a i i co ane i Se ton 13 of
ns ton s nt i d n c i .
t Resaed Reie e tPl n oft Ba cays
he tt
tr m n a
he r l Amerc
ianco po ai n,Am e d a
r r to
nde nd

r sae J n a y 1 1 8 (heût trme tP1n'. S cin 13o t Reie n
e ttd a u r , 9 9 t le ie n a ' e to . f he trme t
l
)
Pln s i a l excude fo t defnii of pe i bl co pe a i
a peclc ly
l s r m he
i ton
nsona e m ns ton
ûs ve a e pa s a pa or r t nton i e i . St y pa a r e i
te r nc
y, t y- y
e e i nc ntves'
'
a
y nd et nton
i e i sa e us by Ba ca i c
nc ntve r ed
r lys n onne ton wih di sitr sasa me nim t
ci
t ve ttle
cha s o
r t i ke m e
e an y mber of a e c i t a durng a s e pe i a t a
s
n xe utve e m
i
al rod nd he bove
de i to of penso bl c
fnii n
i na e ompe ai r te t Ba c a pr c i of e l ng
ns ton el c s r l ys a tce
xcudi
t
ypesofco ns tont ta eno ge r ly a ia et a1 e oyee .
mpe ai ha r t ne al va lbl o 1 mpl s
Yo r ceved a lte i M ay of 1
u e i
e tr n
994 fo M T.Amat o Ba c a t twa a
rm
o f r l ys ha s n

e tmaeofm urPlnbe s(o e l ed) Duet ace iale ,Mr Amao
si t
a neft c py ncos .
o lrc nor . t
i orec l i l
nc r ty ncuded yo s i pa nta pe i bl c
ur pecal yme s nsona e ompe a i f 1
ns ton or 994
on t s co pa oft tl te . U pon di co r oft cl r c le r ,M ..Am a o
he e nd ge ha e t r
s ve y he e i a r or r
t
s ntyo a r vie esi t o Aug t8,1 t tdi noti l y s c a
e
u e s d tma e n
us
994 ha d
ncude our pe i l

p y n a p nso a ec mp nsto ( o e co e )
a me t s e in bl o e ain c py n l s d .

M r Am ao' s c e tm ae ofyolrPln be ft i c r tbec us yotrs i
.
t s e ond si t
z a ne is s orec
a e l pecal
pa e twa a r t n i i e i or sa pa a t Pl n s cfc l e l
ym n s e e ton nc ntve
ty- y nd he a pe ii aly xcudes
bot t
h ypesofpay e sfom t defrii ofpe i
m nt r he ilton
nsonabl c
e ompe a i
ns ton.
BRCLY 0001 .
81

I sa
nne ppeaedt de alofhe cli f be t unde t Reie ntReso ai n Pl n.
l he ni
r a m or neks
r he tr me
t r to a
I s
n uppo tof he a al I s a gue t t t PoolPa nt t t s r c ve o or a ut
r
r ppe , nne r d ha he
yme ha he e ei d n
bo

Fe a y 28,1 wasape f m a ebo r t rt n ar tnton bonus andt tt de i i t
bnz r
994
ror nc nus a he ha ee i
,
ha he c son o
e l t bonusfom pe i c l ultonswa bas u a a e
xcude he
r
nson a c a i
s ed pon n m ndme t t Pln t twas
nt o he a ha
noti efe tatt tm et bonuswaspai
n f c he i he
d.
Imes a a was de e by l te daed Aprl 2, 201
r ' ppe l
nid
e tr t
i
5. I t t lte , t Pl
n ha e tr he an
Adm i sr t fr ta es e I s a gz e r r ng t a i a e de i ton ofpe i bl
nita or is ddr s d nne ' r lm nt ega di he pplc bl fnii
nsona e
c m pe a i
o ns ton. The Pln Admi sr t r ex ai d t t sa pa a r t nto i e i we e
a
nita o pl ne ha t y y nd e e i n nc ntves r
e l
xcuded fom t de i ton ofE ompe ai ' s ntt a a
r he fnii
ç
c
ns ton'purua o n mendme ado ed on Jme 1
nt pt
t 9,
1 2, o be or I
99 l ng f e nnesr evedhe PoolPa e , ndt tt pur eoft a e e wa t
ec i
r
ym nt a ha he pos
he m ndm nt s o
m e o i lz Bar l ys co pe a i pr tc swih r pec t e o e c ii lt t s e ofis
m rai e c a ' m ns ton aci e t es t o mpl ye s rtca o he al
t

no o e b sn se . BRCLY0 0 4 . Th P a Ad nitao t e rj ce Ime 'a g me t
nc r u ie s s
022
e ln mi srtr h n ee td r s r u n
t tt PoolPa e wasa pe f
ha he
ym nt
ronna e bonusr t rt n a r t nton i ntve e ani a
nc
ahe ha
ee i nce i , xpl i ng s
f l s
olow :

Ba ca r tnel ofe e sa pa o r tnton i e i t ke e oye durng
r lys ou i y f r d ty y r ee i nc ntves o y mpl es i
a s epe i t twe epai i t e oyeer m aned a a tve e oye untlt
al rod ha r d f he mpl
e i
n c i mpl e i he
cl i da e a t ta a ton s c s uly c os d. Thes pa e swe em a
osng t nd he r ns c i uc es f l l e
e ym nt r
de
t i eke e oye t sa wih t busnes t i c osngt e ur as
o nduc y mpl es o t y t he i s mtl l i o ns e moot
h
cl i i whi h Bar l ys c d dei r t busnes t t pur has r i s
osng n
c
c a oul lve he i s o he c e n ound
lnancala ope a i na co ton.
i nd r to l ndii
I ad to t c r t rz to ofyotrPa ntasa pe f m a e bonus i not
n dii n, he ha ace ia i n
z yme
ror nc
s
s
uppore by va i dic sonsa ong BCC' t n Pr i nt M r Boyd,and t
td
rous s us i
m
S he esde , .
he
s ni m a ge e of Ba clys N o t Ame ia. M r Boyd r s d a tii n
e or na m nt
r a
rh
rc
.
aie trto
c
once ns pror t t s e a r que t t t s i pa e s be ma t hi
r
i o he al nd e sed ha pecal ym nt
de o s
e c i t m on t da ofc os ng c tona onl on t i e pl e on t t
xe utve ea
he y
l i ondii l y
he r m oym nt ha
7

da e. l a m e a um t s ni m a
t n
mor nd
o e or nage nt o Ba clysNorh Ame ia,he
me f r a
t
rc
sa e
tt d:
Onc t wo d i i t m a keplce i i goi t t ke e r hi
e he r s n he r t a , t s ng o a ve yt ng
t sma ge
hi na mentt n ha t hol t Co pa t t r M a ke
e m s o d he m ny ogehe .
r t
c t o a e s h t tot rc pa e w ilof e pa kage t tf r
ondii ns r uc ha he om ni s l f r c
s ha a
e e d t e pr s nty on t t bl fom Ba ca i t r s of
xc e hos e e l
he a e r
r lys n e m
mno sa c ra n y ofpa e ....
unt nd e ti t
ym nt
Eac ofm y s ni peo ea e i dif r st to , r onal a
h
e or pl r n fe ent iuai ns pe s ly, nd
wha Ibei ve i i t Ba s i e e ti t tea t m s
t le s n he nk' nt r s s o r t he omewha
t
ge r l wih c e ra e m e sgi ngrs t pa ut c tonal
ne ousy, t l a gr e nt vi ie o m s ondii
onl o e pl e to t da ofcosng. I t Bn wil t t
y n m oym n n he y l i
f he nk l do ha ,
i my o ni t s ni rma ge ntt n wildo e r hi t t
n
pi on, he e o na me e m l
ve yt ng ha
i huma ypos i et s vet Bal si e e t
s
nl
sbl o er he rk' ntr s.
Pa t c tonal onl on e o e o t da o cosng a e pr ry
you s ondii
y
mpl ym nt n he y f l i r ope l
c r t r z a s a pa orr t nton i e i s no pe f m a e bo es
ha ac e i ed s t y y e e i nc ntve , t r or nc nus .
BRCLY 000243.

Ime fld t i t n a ton o Aprl22, 5. I he c
r s ie he nsa t c i n
i 201 n r ompl i ,I
ant nnesa s rsacai f
s e t l m or

b n ft t e j 5 2 a( )b o ERI A,2 U. C.j 1 3 a ( )B) a d a cam f rsauo y
e eis md r 0 ()1( ) f S 9 S.
1 2()1( , n
li o ttt r
d ma e t e j 5 2 c( )B) 2 U. C.j 1 3 ()1 ( . Ime as s e st r c v r i t e
a g s md r 0 ()1( , 9 S.
1 2 c ()B) r s lo e k o e o e , n h
e ntt ts pr val on eihe cli G he a opdae e tbl r le ...i l ng butnot
ve ha he e is
t r a m, ç r ppr
ot
t quia e e if
ncudi

l td t p eu g n itr s o p s d pa b n ftp a d ûe s n be atme sfe a d
i e o rj d me t n ee t n a t ue ln e e i ' n û ao a l to y' e s n
mi
s'
r
c ss' Co l! 414 , c e No 1
o t. mp . ! - 3 Do k t . .
'
I a c r a c wiht ec u tsshe ui o d r tepate mo e f rs mma yj d me t
n c o d n e t h o r' c d l r e,h ris v d o u r u g n
ng

o t p an ifscam f rb n ft. S e6 1 / 5S h d igOr e !5 Do k t . ( 1p ris
n he litf' li o e eis e / 0 1 c e ul
n d r , c e No 7 ç 1 a t
W
e
ae d e d t h ve mo e fr s mmay j g n i t er r s e tv fv r b sd u o t e
r e me o a
v d o u r ud me t n h i e p cie a o a e p n h
a miitai rc r -) Th p ris t e mo e f rsl r j d me to t cam f r
d n srt e o dn. e a t h n v d o l
ve
e
mmay u g n n he li o
sa u o y da a s Them otonsha bee f ly bde ed a a g
t t t r m ge .
i
ve n u l
f nd r ued,a t m a tri now rpe
nd he te s
i
f rr viw.
o e e

D i c s on
s us i
1
.

C l m f be ft
ai or ne is

I
nness e r viw oft de a ofhe cli f be ft unde t Reie e Resor to
e ks e e
he nil
r a m or ne is
r he tr m nt t ai n

Pln pls n t j5 2 a ()B)o ERI A. Th ts cin a t rz sapa p rii n t b iga
a , t ua t o 0 () 1( f S
r
a e to uho ie ln a t pa t o rn
c

G iia to . .orc v r e ft d t (e)u d r h tnnso (eq a t e f re(e)rg t
û v l cin . t e o e b neis ue o h r n e t e e f h r pln,o n o c h r ih s
c
t e t tnnso t epa o t caiy (ejrg t t f t r b n ft u d rt etr o t pln.
md r he e
f h ln, r o lrf h r ih s o uu e e eis n e h ems f he a '
'
29U. C. 1 3 a( )B)
S. j 1 2()1( .
A.

St
andard ofR e e
vi w

W he e a he e a e oyeebe ftpl npr vi safduc a y wih dic ei na y a hort
r , s r , n mpl
ne i a o de
i r t s r to r ut iy
t de e mi whet ra cai ti e il d t be ft o t o he wie c tue t t r soft
o t r ne
he
l man s ntte o ne is r o t r s onsr he e m
he
pln,a dititco tr vi wst fduc a y' de ii n f a e ofdic ei n. Se Fiesone Tie
a
src ur e e he i i r s c so or bus
s r to
e r t
r

a d Ru be Co. Br c ,48 U..1 ,1 0 1 ( 9 9 . G u ,i C S a to swheet e
n b r v. u h 9 S 01 1 - 1 1 8 ) Th s n ERI A cin
r h
panif sc aln i gt d na o b n ft, u r u g n i meeyt ec n ut ob igt e
litf i h le g n he e il f e eis s mmayj d me t s rl h o d it rn h

lg lq e to b fr t ed sdc c u ta dt eu u ltsso sl r j g n d n ta pl '
e a u sin eo e h it t o r n h s a et f l
mma y ud me t o o p y.'
'
Avesv.Kya t M i ncCo p.No.3:4- 00011 201 U. DitLEXI 92731 a *9 ( .
r
nie ni
r,
1 CV, 5 S. s.
S
, t W D.

Va J y 1 ,2 5 ( u tngKet v. d. .Co .
. ul 6 01 ) q oi
i Fe Exp p LTD Pln No 70 CV0 3 9 2 0 U.
h
a , . :9 0 8 , 01 S.
Dit LEXI 3 48 , t* 0n. ( . Va Apr 1 ,2 0 I se d t c t'pef nnsar c r
s.
S 7 0 a 1 4 W D. . . 5 01 :. n ta ,he out ro
eod
r vi w t dee newhehe t pln admi sr t a edisdic e i i denyi t pli ifs
e e o tnni
t r he a
nitaor bus t s r ton n
ng he a ntf '
c am f rbe ft . I
l i o ne is d.
Unde t a e of d s e i s a r t c r G ilno dit r a pl n adm i s r t '
r he bus
i cr ton t nda d, he ou t û l t s u b
w
a
nit a or s

de iini t decsoni r a o bl,e ni ghec twoul ha c t aconrr c uson
cso fhe ii s e s na e ve f t ourl d ve ome o
tay oncl i
i pe nty. W iln v. er LieI Co.609F. 622,629( hCi. 0) A de son
nde nde l ' lims M to. f ns. ,
'
3d
4t r201 .
cii
i r s bl i i i t r s tofa G lbe ae,prncpld r as ng pr s ' a çs
s ea ona e f t s he e ul
û i r t i i e e oni
de
oce s' nd çuppore by
td

s t i e de ' l Subsan i le de ei t tt c ar as ngm i w o d a ce a
ubsantal vi nce. d.
'
t ta vi nc s ha l h e oni
whi
nd ul c pt s
s fce t s por apa tc a concuso ' Dupe r v. f I .Co.ofN. . 632 F. 860,
ufi int o up t ri ulr
l i n.
'
ry Lie ns
Am ,
3d

8 9 ( t Ci.2 1. l c n it o t r ta a s itla ( f e d n e b t ls t n a
6 4h r 01 ) t o sss f G e h n cn il o vie c ) u e s ha
mo
P e o d r n e' Do nel M er LieI s Co,1 5F. p' 2 8 2 5 ( t Ci. 0 6 (iig
rp n ea c . n l v. to f n . . 6 Ap x 8 , 9 4h r 1 0 ) ctn
'
Le b ev. etng o s Elc Co .7 7F.d 1 7 20 (t Ci.1 8 :.
Fe r W si h u e e . nj, 4 2 9 , 8 4 h r 9 4
TheUniesStt Cour ofAppe sf t Fo tt Cic tha i ntfe eghtnone l i
t aes
t
al or he trh r ui s de ii d i
xcusve
f c o st ta c t ay c i ri r vi wi apln admi sr t ' de son f r a ona e s
a t r ha our m
onsde n e e ng a
nitaors cii or e s bl nes .

See800t v. a- a'St es l . s s He t & W efr Pln, F. 335,342- ( hCi.
h W lM l or .nc Asoc . alh
t
lae a 201 3d
43 4t r

2 0 ) Th ef co sicu e
0 0 . os a tr n ld :
() h lng g o tep a ;2 tep po e a g aso tep a ; 3 tea q a y
1 t e a ua e f h ln () h u s s nd o l fh ln () h de u c
o t m a e il co i r d t make t de ii n a t de ee t wli h t
f he tra s nsde e o
he cs o nd he gr o zc hey

s
uppor i;( whet r t fd ir s i eprtto wa c itntwih ot r
t t 4)
he he iuca y' ntr eain s onsse t he

po iinsi tepa a dwi e riritqrtto so tepa ;()wh t rte
rvso n h ln n t al ne eain f h ln 5 ehe h
h e

d cso ma igp o e swa ra o da dp lcpld; 6 wheh rt d cso wa
e iin kn r c s s e s ne n rn i e ( ) te he e iin s
c nsse twi t p o e u a a d s b tn ie r q ie n so ERI A;()a y
o itn t he r c d rl n u sa tv e urme t f S 7 n
h
e tr a sa ad rlv n t t e e ecs o ds rto ;a ( )t fd ir '
x en l tnd r ee a t o h x r ie f icei n nd 8 he iuca ys

m o i sand a c lc ofi e e ti m a ha .
tve
ny onfit ntr s t y ve

J. So c t ha a idt efcor i apice lfs on,s e W a s v.M e a Gen.
.
I
L me ours ve pple hes a t s n e mea a hi e
son
di
.

l . 4 6 F.S p 2 5 9 5 - 0 ( D. .2 0 )( oi i whih pat sfv re c fco
nc, 4
u p. d 7 , 916 2 E. Va 0 6 n tng n c ry' a o a h a t r
weghe ,whie ot r ha e mi d t fco sholsial t dee mi whehe t pl
i d) l hes ve xn ne he a tr itc ly o tr ne t r he an
a nitaors decson was t r s t of a r a one a pdncpl d pr s s
dmi sr t '
ii
he e ul
e s d nd
i e oce s uppo td by
re

s b tn il vd nc . Se Du e r v LieI . o N. , 3 F.d8 0 8 9( t Ci. 01 )
u sa ta e ie e e p ry . f ns Co. f Am.6 2 3 6 , 6 4h r 2 1.
G he adititc t e e apl nadmi sr t r sdec so unde t a eofdicr ton
t n src our r viws a
W
nita o ' ii n
r he bus
s ei
sa r ç a s s e o t r a ona e s of t a i s r t ' de i i n m us be ba e on
t nda d, an s es m nt f he e s bl ne s he dm ni t a or s c s o
t
sd

t fcsknownt i att tme.' Elit v.Sa aLe Co p. 1 F. 601 6 ( h Ci.1
he a t
o t he i '' lo t r e r , 90 3d , 08 4t r 999)

(uoig S e p r & Eno h Prt Ho p. I .v. a eesl s Co,3 F.d 1 ,1 5 ( t Ci.
q tn h p a d
c at s . nc Trv lr n . . 2 3 20 2 4h r
10

1 9 ). Ac o dn l ,t e c u ti g neal lmie t te a mi srtv rc r a d ohe
9 4)
c r ig y h o r s e r l i td o h d nitai e e o d n t r
y
e de elnown t t pl a i sr orwhe i r nde e t de son unde r vi
vi nc c
o he an dm nitat
n t e r d he cii
r e ew. Het v.
lon

AT&T Ic, 0 F.d 3 , 5 - 3( t Ci. 3 ; e as Br ds v Fe . p e sCo .3 4 F.
n .7 9 3 43 3 2 5 4h r 201 ) s e lo o ih . d Ex r s p , 8
S p 2 8 7 8 3( M d. 0 5 (Ge eal,h Fo rhCic t ei e t ea mi itaier c r
u p. d 2 , 3 D. 2 0 ) G n r l te u t ruid fn s h d nsrtv e o d
t
y
a t ef t known t t a nita o a t tmet a nitaormadet be ft e i biiy
s hos acs
o he dmi sr t r t he i he dmi sr t
he ne s lgi lt

dee nai ' Thebur nofpr nga a eofdic ein rsswiht pli if At tr
tnni ton.
).
de
ovi n bus
sr to et t he antf. wae
v. t Newoks I ,388F.
Norel t r .nc.
Supp. 610, 7( . N. 2005)(ii Saa v.Cont Cor ,
2d
61 M D. C.
ctng h
el p.

7 0F. u p 31 , 5( M d 1 91 , f' , 7 F.d 1 5 ( t Ci.1 9 :.
8 S p . 1 31 D. . 9 ) afd 9 8 2 2 6 4h r 9 2
B.

A nal i
vs s

Upon r viwi t r c d i t s c s , t co t i of t o ni n t t t Pl
e e ng he e or n hi a e he ur s
he pi o ha he an
Admi sr t rdi a eisdic e i i de ng I 'r s f be sunde t Re ie e
nita o d bus t s r ton n nyi nnes eque t or neft
r he tr m nt

Re t rto Pln. Beo e ds u sn te me i o he cam f rr l fun e j 5 2 a( )B)o
so ain a
f r ic si g h rt f r li o ei d r 0 ()1 ( f
s
e
ERI t c twiltr ta r s whe he t c am wa tld wihi t a i a e sa ut of
SA, he our l i s dd e s
t r he l i
s se t n he pplc bl t t e

lmia i . Fort r a onse ai d bel t co tc ude t ti wasnottm ey fld.
i t tons
he e s
xpl ne
ow, he ur oncl s ha t
i l ie
St ut ofLi i atons
at e
m t i

ERI lke m a f de a l ws doe no c ai a saut of lm iai a ia e t
SA, i
ny e r l a , s t ont n t t e
i t tons pplc bl o

camsf rb n ft t e j5 2 a( )B) W ht v. u LieAsu > c Co o Ca a a 4 8F.d
li o e eis md r 0 ()1( . ie S n f s r e . f n d , 8 3
2 , 4 (t Ci. 0 7 . Ac o dn l, o rsç ro tesae1w lmiain p ro a p ia l
40 2 5 4h r 2 0 ) c r i gy c u t G r w h tt a i tto s e id p lc be
bo
t camsmos eosl c r pondi t t f rlc us ofa ton.' J Unde NorhCa olna
o li
t l ey ores ng o he edea a e ci ' .
Z
r t ri
l , c ot r s gove nst Retr m e Res or to Pl t tz e - rs a ut oflm ia i
aw whi h he wi e
r he i e nt t a i n an, he lr e yea t t e i t tons

a ia e t c r taci i t ( opera j ., Si e on v.Te p.Di a lt Beneis
pplc bl o ontac tons s he .
&
pr
na ogy , nclt
5
m
s biiv
tt

5TheRe ieme Resor ton Pl pr dest ti ç lbec tue and enf ce i ac dancewih
tr nt t ai
an ovi ha t t
shal
onsr d
or d n cor
t
t lwsoft Stt ofNorh Car i ' BRCLY000008.
he a
he ae
t
olna.'

11

Plnf rSaaidEmplyee ofCha onI ' Cor #505,183F.App' 293,295n. ( h Ci.
a o lre
o s
mpi ntl p.
x
2 4t r

20)
0 6.
Alhoug t sa u eoflm ia i nsi bol wed fo sa el w,f de a l w de e mi st
t h he t t t
i tto s w
rm tt a e r l a
t r ne he
dae on whih t saut oflmiai be nst r n. W hie 488 F. a 245. I mos ERI
t
c he t t e i t tons gi o u
t,
3d t
n
t SA

c s s t el tto sp ro b gn t nm wh napanif ytrts e udca rv e a trs e
a e ,h i ai n é id e is o
mi
e li tf ma ls e kj iil e iw, fe h
ha e use al a nita i r m e e a ia e t r t a iabl pln. l a 246.
s xha t d l dmi sr tve e di s va lbl mde he pplc e a
d. t
W he e,
r howe r apl ntf doe notmakeatm ey cli f be f ,a lt c t,i l ng
ve , ai if s
i l am or ne ks ppelae ours ncudi
t Fo t Cic t ha r cognied l n alem ai a oa h,'mde whih t lmia i pe i
he urh r ui, ve e
z û t tve ppr c 't r c he i t tons rod
a

be nst r n a Ghe tme a whi h s
gi o u t t i t c ome e tot rt n a de alofac am s d ha a e td
t
ven he ha
ni
l i houl ve l re

( p an if t (e)e t lme t oteb n ft (h lddno r c ie' Cotrv. Co f rn eo
t litf lo h r n ie n t h e e is s e i t e ev . te E. n ee c f
he
t
'
Te mse sRe. a 8 F.d4 4 42 (t Ci. 9 0 . E d r h sa p o c t f r l e il s
n tr tPln, 98 2 2 , 9 4h r 1 9 ) t e t i p r a h,a o ma d n a i
un
notr quie i t r ha ale bee ar puditon oft be f byt fduc a ywhi hw a c e r
e r d f he e s r ady n e a i
he ne hs he i i r
c
s la

a ma ek o t tebe eiir ' Bo d v M aro tItl l c,6 7F.Ap x 7 , 3 ( t
nd d n wn o h n fcay.' n . rit n '. n . 3
'
p' 26 7 2 4h
Ci. 01 )(uoig M ie v. ri Be ft I s Co.4 5F.d 51 , 2 - ( dCi. 0 ); e
r 2 6 q tn l r Fo t neis n . , 7 3 6 5 0 21 3 r 20 7) s e
l
s
as Cae v.n ' Bh . fElc W okesLo a 3 3Pe inPln, F.d4 48( Ci. 9 9
lo ry I tl d o e . r r c l 6 nso a 201 3 4, 2d r 1 9 )
(t e. . olw t eS ve t , g t a dNit Cic t i h ligt a a ERI A cam a c e
1
W . f lo h e nh Eihh, n nh rui n odn h t n S li c nzs
s
uponac e rr pudito byt pl nt ti known,o s ul beknown,ot pli tf - r r e s
l a e ai n he a ha s
r ho d
t he a n if - ega dl s

o wh t rt p an ifha fld a f r la piain fr b n ft. M o i o v.Ma s &
f ehe he litf s ie o ma p lc to o e eis'
l; n s n
rh
M c r nCos, 9F.d2 5 3 2 (t Ci. 0 )( er l g v r i gwh nac u eo a to
Lema
.43 3 9 , 0 6h r 2 06 ç ue o en n e a s f ein
Th
a c e i t l l a r pudi i n'nze. Thi r l pr dest twhen a fduc a y g ve a c a m a
c nz s s he c e r e ato
l
s u e ovi ha
i i r i s l i nt

c e r a unequi al r puditon of be ks t al i a
l a nd
voc e a i
net hat one s dequa e t co menc a c ua ,
t o m
e cr l

rg r ls o wh t rter p daini fr lo no.)
e a de s f ehe h e u ito s o ma r t' .
'

12

Ast eFo rhCic ir c n l e p ane ,ûl lla r p dain' ues r e teg l o
h u t r ut e e ty x li d Gthe ce r e u ito r l ev s h oas f
l
same o lmiai n , o tr moej tc byp e e tn s prs str ug t erv v lo cams
tt s f i tto s t p o t usie r v n ig u ie h o h h e i a f li
t t ha bee alowe t slmbe t i e de e has be n l t m e o i ha f ded,a
ha ve n l d o ll r mtl vi nc
e os, m res ve a
nd
wine s sha dia a e 'Or ofR. Teegr phe s v.Ral v Expr s Age
t s e ve s ppe r d, der
R. l a r
iwa
es
ncy.I . 321
nc,

U.. 4 , 4849( 9 4 , n t e c u a eta i rs lto so d s u e , Cae , 01F.da 4 5
S 3 2 3 - 1 4 ) a d o n o rg r pd e ou in f ip ts' ry 2 3 t 7.
'
Bond,637 F.App' a 732. ç hes goas E r s r ed whe t a r a dae a hor t
x t
T e
l ae e v
n he cc u l t nc s he

lmiai pei t apli i sr a ona edic r ofa tona eha m.' I ( tngM ilr
i ttons rod o antY e s bl s ove y ci bl r '' d. quoi
le,

47 F.da 5 2 .
5 3 t2)
Appl ng t cea r puditon conc pthe e t co tc l
yi he l r e a i
e
r , he ur oncudes t t I 'c am f r
ha nnes l i o
be ft i t i y. I s wa puton notc t the PoolPa ntwoul notbe tea e as
neis s mtmel nne
s
i e ha r
yme
d
r td
pe i
nsonabl c
e ompe a i i Augus of 1
ns ton n
t 994,whe s r c ve aç e s d' pe i c l ulto
n he e ei d t vie ' nson a c ai n
r

s ngt the Reie ntRe t a i Pln be ftt t e $1 . a t ti woul bepad i
howi ha r tr me
sor ton a ne i o ald 0120, nd ha t
d
i n
a lz sl diti i l s a ia e t x wihhpl ngs BRCLY0001 1
lmp- lm srbuton, es pplc bl a
t di .
85- 86; s a s
ee lo

BRCLY0 01 9( () wa ce rt th . . u e si telte d dn t elc t e(o l p y n
0 9 <It s la ha te . n mb r n h etr i o r fe t h p o) a me t
û
aspa toft pe ina eba e.) Byt tmelme rceve t rvie cac ai I swas
r he nso bl s ' .
'
he i l s e i d he e s d lulton,nne
ale y a r ofBa clys poston t tt PoolPa e woul notbe tea e a pe i bl
r ad wa e
r a ' ii ha he
ym nt
d
r t d s nsona e

c
ompe ai n. She i c t d durng he 1
ns to
ndi a e
i
r 997 de ii n i t Boyd ltg to t t pe i n
posto n he
ii a i n ha ns o
is swe eçdic s s a trt s l t pl ce' BRCLY0001
s ue r ç s us ed oon fe he a e ook a .'
99. Alhough l sha t
t
nne d he

o p ru iyt ont epanif i t eBo dc s , ,iehe,o kis ewi Baca ' sto
p o tnt oj i h litfs n h y a e who lk rt o su t ' lys po iin
h r
>

on t PoolPa e s Imesm a t c c o decson nott do s ba e on he t n- xitng
he
ym nt, z
de he ons i us ii
o
o, s d
r he e si

b le t a t e vau o a y a dto a p nso b neisd d n tj siy t e c s o l iain.
eif h t h le f n d iin l e in e ft i o u tf h o t f i g to
t
Ei ht e yea sl tr whe s wasc os t 65,l e c nge 'e mi a elc e t fl s t
g e n r ae , n he
l eo
ml s ha d h r nd nd e t d o ie ui.
W hie t pos i lt ofa ii na pe i be ft may ha be om e mor i ra t I s
l he sbiiy
ddto l nson ne is
ve c
e mpo tnt o nne
13

o c s er a h dr t e n a e t et co n e n o almiain pei dn e n t. . wat
n e h e c e ei me t g ,h û l mme c me t f i tto s ro e d o . a i
r
l
t da ofc m plt a r nes 'ont pa t apl i if Brunba v. i t Pa t r ,985
he wn o ee wa e s' he r of antf. t uah Prnceon rne s

F.d 1 7 1 2 (t Ci.1 9 ) Be a s a rg tt a l n sh d t mo t y pe so be eis
2 5 , 6 4h r 9 3 . c u e ny ih h t n e a o nhl n in n ft
t rt Reieme Re t ai Pl wascea l r pudit d by Ba caysi t m i 1
mde he tr nt sor ton an
l ry e ae
r l n he d- 990s he
, r
ca m f be f i ba r d by t a ia e saut oflm iai ns6
li or ne hs s re
he pplc bl tt e i t to .
2.

R evi w f Abuse ofD i
e or
screti
on

Eve i I ' c am we e not tm e ba r t co t c d not fnd t t t Pln
n f nnes l i
r
i - red, he ur oul
i ha he a
Admi sr t r a e is dic e i i de ng he cai . The de son was s ppored by t
nita o bus d t s r ton n nyi
r lm
cii
u
t
he
l ngua oft Pln,a t t vi ncelnownt t pl n a i sr t 'a t tm et decs o
a
ge he a nd he t de c
e
o he a dm nita or' t he i he ii n

wa ma e Hetn, 0 F.d 3 , 5 (t Ci. 01 ) s eas Domel M er Liel s Co,
s d . lo 7 9 3 43 3 6 4 h r 2 3 ; e lo r l v. to. f n . .

1 5F. p' 28 , 9 ( t Ci. 0 6 (W sweh v n td j d ca rv e o t ra o a lne s
6 Ap x 8 2 4 4h r 2 0 ) E
a e oe ,u iil e iw f he e s n be s
o (h pa a miitao 'ld cso i l tdt t b d o e i e c beo et a mi srt ra
f te ln d n srtrs e iin s i e o he o y f v d n e f r he d nitao t
mi

t tmeirj ce g pli tf s cam.) At h tmeo t s l o BCC t CI teo rtv
he i t ee td t anif q li ' . t e i fhe ae f
he
'
o T,h peaie
defnii of pe i na e tc
i ton
nso bl lompe a i ' e l
ns ton' xcuded tsa pa or r t n i n i e i .
lt y- y
e e to nc ntves'
'
BRCLY000245. The Pln Admi sr t c uded t tt PoolPa m e ma t l supo
a
nitaor oncl
ha he
y nt de o nne
n
t s e of BCC f l wihi t t c t gor a
he al
el t n ha a e y nd, t , was not pe i bl . The Pln
hus
nsona e
a
Ad i sr t ' dec so wa s
m nitaors ii n s uppored by a me or ndum fom Edwa d Boyd,t Pr sde of
t
m a
'
r
r
he e i nt

BCC,i whih hea e sd t E trton ds s'a s ae wih t sl oft co ny,a
n c
ddr se he ç tii kgq' socitd t he ae he mpa nd
a
r quese t tt E
e t d ha he û
payme sbepa dont da ofcl i co to lo y onempl ym e a t t
nt
i
he y
osng, ndii na nl
o nt t ha
da e. BRCLY 000266. Thedec son w a al o s ppore by I
t'
'
ii
s s u
td
nnes own de ii t tm o i
'
poston es i ny, n

whihs sae t tltwa unde soodt tt poolwo dbepa bl upon (he daeofs e,
c he ttd ha G s rt ha he
i
ul
ya e
t q t al but
6l lghtoft cour' concl on t tI
ni
he
ts
usi ha nnes'cai f beneft i bare by t sa t eoflmiai ,
l m or
is s r d
he ttl
t
i t tons
t cour ne notdeci whehert def e ofl hesa ist t scl m.
he
t ed
de t he ens
ac
pple o hi ai

14

b y n t a c ndto t e e wee n o h rq aiyng c n iin atc d' BRCLY0 01 7
e o d à t o i n, h r r o t e u l i o dto s ta he .
i
f
'
0 9.
Pa nt t ta e c tona onl on c i d e pl e tloug t da ea c
yme s ha r ondii l y
ontnue m oym nt lr h he t ompany i s d
s ol
a e r to ly cha a t rz a sa pa or r t nton i n i s a t Pl n Adm i sr t
r ai nal
r c e i ed s t y y
e e i nce tve , nd he a
nitaor
ope a e wel wihi is dic e i i c a sf ng t m a s h. M o e r t Pln
rtd
l t n t s r ton n l s iyi he
s uc
r ove , he a
Ad i sr t ' de ii n i t s r ga d wa c itntwih e rir i e pr t tons of t Pl n,
m nitaors c so n hi e r
s onsse
t a le nt r e ai
he a
i udi t et tga rs t t Boyd c e. Ac or ngl denyi I s c am f be ks
ncl ng hos ha ve ie o he
as
c di y,
ng nne ' l i or net
wa ar as bl de son ba e on t i onnai n a ia e.
s e ona e cii
s d he nf
to va lbl
The c t i not pe s ded by I 'c ii im of t m ae i l r viwe by t Pl n
our s
r ua
nnes rtcs
he t ra s e e d
he a
Adm i sr t . I pa tc a , Imes tke is wih t f c t t t Pln Adm i sr t
nita or n riulr r
a s s ue t he a t ha he a
nitaor
c i r a me or ndum pr pa e by c ms li t Boyd c e r a di t tl ws t Gi n
onsde ed
m a
e rd
ot e n he
as eg r ng ha a ui. ve
t sm ia ii be- e n t t c s s howe r s
he i l rtes
e he wo a e ,
ve , omeo hadt s
ne
o ummarz t Boyd ltga i f
ie he
ii ton or

t Pl Ad i sr t . Si e t c s wa ltga e ne ry t n y yea s ag i wa no
he an m nitaor
nc he a e s ii t d a l we t
r o, t s t
um e s na ef Ba clys c r e co e ,
a o bl or r a ' u r nt uns l who a s s rv d a c
lo e e s ouns lofr co di t Bo ca e
e
e r n he yd s ,

t b t eo et d s Thec u tie s rj csIme ' r u n ta ac nfito itr s titd
o e h n o o o.
o r lk wie ee t r s a g me th t o lc fn ee tan e
t Pln Adm i sr t ' decson he e. l i undiput d t tasnlt a c lc doese s,snc
he a
nita ors ii
r ts
s e ha t c ur l onfit
xit i e
t Pln Adm i sr t G h e l tsc am sf rbene isa pa be ftc am s' M e r Lie
he a
nita or t
bot vauae l i o
ft nd ys ne i l i .
'
to. f

l . . Gln ,5 4 U. 1 5 1 8( 0 8 . Ho v r ac n lc o itr s i t u o ea n
ns Co v. e n 5 S. 0 , 0 2 0 ) we e , o fit f ne et s G t n mo g
b
ma y f co s i d tnnii t e ra o a e e s o t e ( a Ad n srt rs ds rto a y
n a tr n ee nng h e s n bln s f h Pln miitao 'j icein r
d tr n to ' Ch mpinv Blc & De ke ( S.l c, 5 F.d3 3, 5 ( t Ci. 0 ) s e
ee miaim' n o . a k
c r U. ) n .5 0 3 5 3 9 4h r 20 8 . e
,
as Pipe
lo e nhaRe v. dDomi onFrihtLi .I ,6 F.Supp.2d 778 78 ( . Va.2009)
n O1
ni eR ne nc. 40
, 5 W D.

(( v n i te a mi srtri a tn t e ac n lc o itrsy t ec u tç s c n iu t
1E) e f h d nitao s cig md r o fit f n ee t' h o r t t o tn e o
G
'
mu
a y a de e e i l s a r of r vi w w hie w e ghi t c lc as a f c o i de e ni
ppl
f r nta t nda d
e e
l
i ng he onf i t
a t r n t nni ng

wh t e t r i a a u e o d sr to ' (iai n a d itr a q oain makso te ) As
eh r hee s n b s f ic ein.) ctto n n en l u tto r mitd .
'
15

dic s d a
s us e bove,t c tfndst tt Pln Ad i sr t ' de ii t de l 'cai f r
he our i ha he a
m nitaor s c son o ny nnes l m o

be ût was r as bl The c ti notpe s ded t tt pr e e of a sr t alc lc
ne s
e ona e.
our s
r ua
ha he es nc
tucur onfi t
i ope l i l nce t tde son.
mpr ry nfue d ha cii

Fo t e era o s tec u t o cud st a t ed fn a ti e tte t s mma yj d me t
r h s e s n ,h o r c n l e h t h ee d n s n i d o u r u g n
l
o te cam frbe eisu d rj 0 () 1( o ERI A. Th c u t l ga tt d fnd n '
n h li o n ft n e 5 2 a ()B) f S
e o r wil ' n he ee a ts
r
moinf rsl r u g n o ti cam a dd n Ine ' to f rs mmayj g n .
to o l
mmayj d me t n h s li n e y n s moin o u r ud me t
I.
I

C l m f s at oa dam aee
ai or t ut
s

Im e a s s kst r cove sa uor da
l s lo ee o e
r tt t y mage a a r s to t dea i r pondi t he
s s e ul f he ly n es
ng o r

rq e t f r eie n plnd cl n s Th scam i b o h p ls a tt j5 2 c( )o ERI A,
e u ss o r t me t a o l t. i li s rug t tru n o 0 ()1 f S
r
me
wli h pr des i pe tne pa t asf l '
nc ovi , n ri nt r, olows
.

Any a nita or.. who f isorr f s st co y wih ar ques f i br ai
dmi sr t
.
al
e u e o mpl t e t or nf m ton
whi h s h a i sr t i r quie by t s tte t f r s t a pa tci nt or
c uc dm nita or s e r d
hi il o u nih o
ri pa

be f a y( es s h fitr o rf alr ulsfom matr r a ona ybeyo
nekir unl s uc alze r e us es t '
r
te s e s bl
nd
t c r oft a nitaor bymaii t maeilr uetdt t l tknown
he ontol he dmi srt )
lng he tra eq se o he as
a e s of t r quesi pa tcpa o be ii r wihi 30 da afe s h
ddr s
he e tng ri i nt r nefc a y t n
ys tr uc
r que t ma i t co ' d s r ton be pe s l labl t s h pa tepa or
e s y n he urts i c e i
ronaly i e o uc ri i nt

be t ir i t n ountofup t $1 a da fom t da e of s h f l e or
nek a y n he m
q 00
y r he t
uc aiur
r f s l a t c tma i isdi c ei or rs hot rr le a i dee pr pe .
e u a , nd he our y n t s r ton de uc he e if s t ms o r
he olowi ea ons he
i ha z
s
il o
2 U. C.j 1 3 ( )1. For t f l ng r s ,t courtfnds t tImes i notentted t
9 S.
1 2 c ()
sam o y dn
t t r mage .
s

Un e te pan ln u g o j 1 3 ()1,cvlp n l e c n o l b i o e u n a
d r h li a g a e f 1 2 c( ) ii e at s a ny e mp s d po n
i
l dm i sr t ' who f l orr f e t c
ç nita or'
a
ais e us s o ompl wih ar que tf rpl n docl e t . 1 ;s a s
y t e s o a
lm n s d. ee lo

rlr sv.LieI .Co.ofN.Am.770F.Supp.2d768,773( M d.2011 . ERJ dei st
oe
f ns
,
D.
)
SA fne he

l d nsrt r' sGi t ep ro s e i ly s dei n tdb t tr o t ei srl n t e
t miitao 'a 1 ) h e s n p ct l o sg ae y he ems f h n tl t md r
a
(
ka
me
wh c t ep a i o rtd'i)i a a miitao i n ts d sg ae ,h plns n o ' r(i i
ih h ln s peae , i f n d n srtr s o o e in td te a po s r o i) n
(
, i
t c e of a pln f whi h a a nita or i notdesg t d a a pl s or c nnotbe
he as
a or c n dmi sr t s
i na e nd
an pons n

1
6

ie tfe ,s h oh r pes n a t Se r tr ma b r guain p e cie' 2 U. C.j
d n i d uc te ro s he ceay y y e lto r s rb . 9 S.
'
1 0 (6( .
0 2 1 )A)
I t sc e I
n hi as , nnesdie t d he i ta r quessf pl n doc e t ,t whih s di no
r c e r nii l e t or a
um n s o
c he d t

rc veatmeyr pons t t Baca Pe in Se vc Ce e (ç vieCe e ' at r pa t
e ei i l es e,o he rlys nso r ie ntr lser c ntr), hid ry
t tpe f
ha ronns c ra n mi se i la a i sr tve f to o be l oft de e nt I i
e ti nit ra nd dm nita i unci ns n ha f he f nda . t s
t s e t tt Se v c Ce e i nott de i t d pln admi sr t . I
mdiput d ha he r i e nt r s
he sgna e a
nitaor nnesne rhels
ve t e s

a gue t ta a r ofsa u o y dn a s i a o it be a e t Se vi e Ce e s r d a a
r s ha n wa d
t t t r m ge s ppr pra e c us he r c nt r e ve s
ç f t ' dm i sr or
t aco'a nitat .
de
'
tlhe Fourh Cicui ha notye e r ed t : f t ad i sr t doc rne,at h
&t r t s
t ndo s he de aco' m nitaor ti lhoug

s meohe Cic ish v d n s . F o e , 7 F.S p . d a 7 3 (iigRo e v.
o t r rut a e o e o' l rs 7 0 u p 2 t 7 ctn sn TRW . n .
'
l c,
9 F.d 1 ,1 3 9 ( 1h Ci.1 9 ) La v. n t& Yomg 9 6F.d 3 4 3 3 7 ( s Ci.
79 2 91 9 -4 1 t r 9 2 ; w Er s
t , 5 2 6 , 7 -4 1t r
1 9 :. I se d t eFo rh Cic i h shedt a teG d nsrtr'md ra ERI A p a i t e
9 2 n ta , h u t ru t a l h t h l mi itao 't e n S ln s h
a
ntt
s
ome apl n ad i sr t smpl
a m nitaor i y
e iy de i a s h by ERI a t tm&e iy doe notbec
ntt fned s uc
SA, nd ha
.

be a e i ha c ti G
c us t s era n t nita i r s i ltes' Col ma v.Na i de Lie l .Co.
admi sr tve e ponsbiii .
'
e n
tonwi
f ns
,

9 9F. 5 , 2(t Ci. 9 2 ; e as S n aaVa Be c Ge rl s v. Be u 1 2F. u p.
6 2d 4 6 4 h r 1 9 ) s e lo e tr . a h nea Ho p. Le a , 8 S p
2 51 , 26( D. . 0 2 (e l n t a pl t eE efco' d nitao d crn , ndh l ig
d 8 5 E. Va 2 0 ) d ci g o p y h G a t 'a mi srtr o tie a o dn ,
ni
d
t rCol ma t ta c tc nno i
mde
e n, ha our n t mpos an admi sr t r ssa u or dute on ano he e iy
e
nita o ' t t t y i s
t r ntt

t e s t t e iy me t t saut y dei ton of ç dmilsrt ' . l t a e ofany
mls ha ntt es he tt or fnii
t ritaor' n he bs nce
a
)
a t iy c
u hort ompeli i t do s t sc ur,lkeot rdititc t i t Fo ut Cic t de lne
lng t o
o, hi o t i he src ours n he t ' r ui, c i s
h
t a ptt tde f c o' ad i s r t doc dne. A c r i y,a ac i nsorom i s o on t pa t
o do he ç a t ' m ni t a or t
co d ngl ny to
s i ns he r

oft Ser c Ce e ,hee iy t whom t una we e r quessf doc e swe eaddr s ed,
he vie nt r t ntt o
he ns r d e l or um nt r
es

d n tgv rs t acam f rsau o yd ma e u d rj5 2 c ()
o o ie ie o li o ttt r n g s n e 0 () 1.

17

M or ove , ve i asa tor pe t c dbeas e s dont bassoft Se vieCe e '
e r e n f ttz y naly oul
t
sse
he i he r c nt rs
f iur t r po t doc e r que t,t co ti of t opi on t t s h pe ly i not
al e o es nd o
um nt e s s he ur s he ni ha uc nat s
wa r n ed i t i tnt c e. I detr ni whehe t i
r a t n he nsa as n e mi ng
t r o mpos a sa ut y pe ly,cours
e tt or nat
t

c n ie s v r l fco s icu ig ( ) l rj d c t te p an if' ( ) the n t r o t
o sd r e ea a t r n ldn 1 û eu ie o h litf ; 2 û au e f he
p
t

a miitao ' c nd c i r s n n t te p rii n ' z q etf rpln d c me t' a d ( )
d n srtrs o u t n epo dig o h a t pa ts e u s o a o u n s' n 3
c
tr tai toubl a e ns 'i uredby t pli if Da sv.Fe t rt
t usr ton, r e, nd xpe e' nc r
f
he antf . vi
a he sone,97 F. 734,
3d

7 8 3 ( t Ci.1 9 ) On b ln e te e f co sweg a an ta a r o d ma e h r .
3 - 9 4h r 9 6 .
aa c , h s a tr ih g is n wa d f n g s ee
Onc I s r s f pl docz nt a t ly m a is wa t t def nda ,t doc e s
e nne ' eque t or an lme s cual
de t y o he e nt he um nt

weep o u e i at l ma n r a dI n sha n t h wn ta s s fee a yp eu iefo
r r d c d n i y n e , n n e s o s o h t he u frd n rj dc r m
me
notr c i ng t m s r Imeshad ar a r t ne co e a t tm e s i taly r sed
e e vi he oone . z
le dy e ai d uns l t he i he nii l eque t
t doc nt fom t Se vi Ce e ,a s woul ha i via y ha t fl s tt r
he ume s r
he r ce ntr nd he
d ve ne t bl d o ie ui mde
ERI t puruehe cli f be t ,i lgh oft de e ntsposton t the PoolPay e
SA o s
r a m or neks n i t he f nda '
ii ha r
m nt
wa notpe i na e. W hie$ c t e ogni e t tI
s
nso bl
l he our r c z s ha nnesma ha e re e fusr ton a a
y ve xpe inc d r ta i s
r ul o t de a i r c vi c e oft r quese pln docl t ,he nee f rne c e
es t f he l y n e ei ng opi s he e t d a
tmen s r d o w opi s
r ule âom he nea l t p ye de a i a s ri her e il mentt be ft unde t
es t d
r ry went ar l y n s e tng
ntte
o ne is
r he
Re ie e Re t a i Pl n. I e I she s fa knowl st ts no l rha c es
tr m nt sor ton a nde d, nne r el c
edge ha he
onge d opi
o t doc e sbe us oft pas ageoftm e.
f he um nt ca e he s
i

Fo t s r ao ,h c u t e ln st a r sau o yda g su d rj 1 3 ()1 . e
r he e e s ns t e o r d cie o wa d ttt r ma e n e 1 2 c () Th

d fn a tsmoinf rsl r u g n wil eg a tdwi r s c t ti cam.
ee d n ' to o l
mmayj d me t l b rn e t epe t o h s li ?
h

1l l h o tecut rl j,n e i n t nie t e utberl f r t re ' fe a dc ss S e
n i t fh o rs ui sln ss o etld o q i l ei o at n ys es n ot. e
g
' n
t
a
e
o
Co . 42(e u sigeui berle i tef ' o t eu gme titrso patd ega beeis)seas
mpl! rq etn q t l elfn h ol f< jd n neet n s u ln n ftn;e lo
a
m pr
Had v. l n eSd. f I . ,5 0 U. 24 ,2 5 (01 )(oligta R f e cama tmu ts o s
rt Rei c t Lie ns Co. 6 S. 2 5 2 0 h dn h t a e s ll n s h w ome
a
d g e o s c e so t meisb f r a c ur ma a r a r e ' f e u e ( U. C. â 1 3 ( ( )'
e r e f u c s n he rt e oe o t y wad to n ys e s nd r 29 S. I 1 2g)1'
)
(i to a ditr a q ttonmak o te . Ac odi l, rrqu ssf rs hr l fmu tb d ne .
ct in n n en l uoai r s mitd) c r ngy he e e t o uc ei s e e id
a
e
18

C onc us on
l i

F rt er a o sae t ec u t l g a t h d fn a tsmoi nf rs mmayj d me t
o h e s ns ttd,h o r wi rn t e ee d n ' to o u r u g n
l

a d d n t plitf' mo in f rml r j d me t Th Clr i dr ce t s n c riid
n e y he an ifs to o mmay u g n . e ek s ie td o e d e t e
f
c e oft sm e o a
opi s hi m r ndum o ni a t ac ompa ng or rt a1c
pi on nd he c
nyi
de o l ouns lo r or
e f ec d.

s b
y a y
DA TED :Thi t da ofJ nuar , 201
7.

ChifUnie Stt sDititJ e
e
t d a e src udg

1
9