Skilling and Government Reach Pact On Pension Suit

Law360, New York (November 16, 2006, 12:00 AM EST) -- Former Enron Corp. executive Jeffrey K. Skilling has agreed to pay $85 million to settle allegations that he mismanaged the company’s pension and benefit plans.

The U.S. Department of Labor said that Skilling will waive his rights to benefits from Enron’s pension plans, and will be permanently barred from serving in a fiduciary capacity to any employee benefit plan governed by the Employee Retirement Income Security Act (ERISA) in the future.

The settlement must still be approved by the U.S. District Court for the Southern District...
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