Bank Workers Fight WaMu Over Retirement Assets

Law360, New York (October 14, 2009, 1:47 PM EDT) -- Former banking employees have asked a judge to not include money from their deferred compensation plans in the estate of Washington Mutual Inc.'s bankruptcy, claiming that doing so would be a violation of the Employee Retirement Income Security Act.

In a motion filed Tuesday in the U.S. Bankruptcy Court for the District of Delaware, plan participants said that the bankruptcy court should impose a constructive trust over the so-called Ahmanson trust assets that should have been distributed in 2007.

The funds should not be considered the...
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