JPMorgan To Take On WaMu Savings Plan, Liabilities

By Christie Smythe

Law360, New York (June 22, 2009, 12:00 AM ET) -- Bankrupt thrift holding company Washington Mutual Inc. and the buyer of its banking operations, JPMorgan Chase Bank NA, have reached a settlement in a dispute over a WaMu employee retirement savings plan, with JPMorgan Chase agreeing to take over sponsorship of the plan and assume certain liabilities.

The parties filed a motion Friday in the U.S. Bankruptcy Court for the District of Delaware, asking the judge to approve the settlement regarding the former WaMu employees’ 401(a) plan, which was part of nearly $8 billion in assets...
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