American Stores Company and Subsidiaries - Page 14

                                       - 14 -                                         
               The taxable year of a contributing employer need not match             
          the plan year of a plan to which such employer contributes.                 
          Administrators of Multiemployer Plans are not cognizant of the              
          taxable years adopted by contributing employers.  Moreover, under           
          the terms of the collective bargaining agreements, petitioner was           
          not required to report to the plan administrators the deductions            
          it claimed for contributions.                                               
               In preparing its funding standard account under section 412            
          for each plan year, no CBA Plan considered contributions made by            
          contributing employers for hours worked by covered employees                
          following such plan year.  Under each CBA Plan for all relevant             
          periods, the earning, crediting, and vesting of a participant's             
          benefit remained independent of the making of any specific                  
          contribution of an employer.                                                
               The parties stipulated that, if called to testify by                   
          petitioner, the employee of petitioner most familiar with its               
          subsidiaries' contribution obligations to each of the plans would           
          state that, as of January 31, 1988, he had no reason to believe             
          that the amount of any of the subsidiaries' monthly contribution            
          obligation to any such plan would significantly decrease in the             
          8-month period following January 31, 1988.  Furthermore, the                
          amount of total employer contributions actually paid to each of             
          the plans relating to covered services performed during each plan           

Page:  Previous  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  23  Next

Last modified: May 25, 2011