Yancy v. American Petrofina, Inc.
| Decision Date | 16 August 1985 |
| Docket Number | No. 84-2755,84-2755 |
| Citation | 768 F.2d 707 |
| Parties | 6 Employee Benefits Ca 2198 Wilson M. YANCY, Plaintiff-Appellant, v. AMERICAN PETROFINA, INC., Defendant-Appellee. Summary Calendar. |
| Court | U.S. Court of Appeals — Fifth Circuit |
Provost, Umphrey, McPherson & Swearingen, M. Diane Dwight, Port Arthur, Tex., for plaintiff-appellant.
Maxwell, Godwin & Carlton, Howard W. Walker, Donald E. Godwin, Dallas, Tex., for defendant-appellee.
Appeal from the United States District Court for the Eastern District of Texas.
Before CLARK, Chief Judge, WILLIAMS, and HIGGINBOTHAM, Circuit Judges.
Plaintiff appeals the entry of summary judgment for defendant in his suit under the Employment Retirement Security Act, 29 U.S.C. Sec. 1001 et seq. (ERISA). 597 F.Supp. 490. We affirm.
Wilson Yancy was employed by American Petrofina, Inc. (FINA) for 24 years. Throughout this period he participated in the Amdel Inc. Non-Contributory Retirement Plan. The plan offers a lump sum retirement option whereby FINA employees can choose to receive their entire benefit in one lump sum upon retirement.
On January 23, 1982 the plan administrators wrote to all plan participants, including Yancy, informing them that the interest rate factor used to compute lump sum payments would be modified as of April 1, 1982 to reflect the economic changes that had occurred since the rate had been set in 1977. The change would reduce the lump sum payment. In November 1981 Yancy had requested the Plan's administrators to calculate his benefits if he were to retire on February 28, 1982. After receiving notice of the interest rate change, he decided to retire early while he could still receive payment under the original interest rate. On January 27, 1982 he signed the appropriate forms to retire at the end of February and elected to receive a lump sum benefit. He wrote "under protest" on this form in three separate places. FINA determined that Yancy did so because he felt that he was being forced into retirement by the change in the lump sum benefit. On February 8, 1982 FINA wrote to Yancy explaining that they considered his decision to retire early to be voluntary, although they acknowledged that the change in benefits was a factor which he had to consider. The letter went on to explain that the interest rate was changed to reflect the reality that the recipients of lump sum payments were obtaining a much higher rate of return on their investment of that sum than had been contemplated when the original interest rate was set. In closing, the letter stated that since Yancy had signed the retirement form, FINA would assume that he still intended to retire on March 1, 1982 unless he notified the company otherwise. On March 1 Yancy retired and accepted a payment of $66,942 without further objection.
Yancy took no further action for over a year. On May 25, 1983 he filed a formal claim with the Plan's retirement committee alleging that the change in the interest rate factor violated the Plan and breached the fiduciary duty imposed by ERISA. He contended that this action had forced him to retire early. When the retirement committee denied his claim, Yancy filed the present action.
The district court awarded summary judgment to FINA on the grounds that Yancy lacked standing under ERISA and, in the alternative, that Yancy had not made out a claim cognizable under ERISA.
A civil action under ERISA may be brought by a participant or beneficiary to recover benefits under the plan, to enforce his rights under the plan, or to clarify his future rights under the plan. 29 U.S.C. Sec. 1132(a)(1)(B). A participant or beneficiary is defined as an employee or former employee who is or may be eligible to receive a benefit under the plan. 29 U.S.C. Sec. 1002(7). "This excludes retirees who have accepted the payment of everything owed to them in a lump sum, because these erstwhile participants have already received the full extent of their benefits and are no longer eligible to receive future payments." Joseph v. New Orleans Electrical Pension & Retirement Plan, 754 F.2d 628, 630 (5th Cir....
To continue reading
Request your trial
-
Boeckman v. A.G. Edwards, Inc.
...that a claim for vested benefits confers standing to sue under ERISA, while a claim for damages does not); Yancy v. American Petrofina, Inc., 768 F.2d 707, 708-09 (5th Cir.1985) (same). In Sommers Drug Stores Co. Employee Profit Sharing Trust v. Corrigan, 883 F.2d 345 (5th Cir. 1989), a cla......
-
Raymond v. Mobil Oil Corp.
...("[Plaintiff] was not a plan participant at the time the action was filed and thus has no standing."); Yancy v. American Petrofina, Inc., 768 F.2d 707, 708 (5th Cir.1985) ("[Q]uestions of standing must be resolved on the facts existing when the challenge is raised."); McKinnon v. Cairns, 69......
-
Oliverson v. West Valley City
...90 L.Ed.2d 48 (1986). The facts of standing are determined by the facts existing when the challenge is made. Yancy v. American Petrofina Inc., 768 F.2d 707 (5th Cir.1985). Citizens may not use the courts as forums for the resolution of constitutional questions that do not effect their indiv......
-
Jones v. AT & T CO., Civ. A. No. 91-CV-6070.
...922; Kuntz v. Reese, 785 F.2d 1410 (9th Cir.), cert. denied, 479 U.S. 916, 107 S.Ct. 318, 93 L.Ed.2d 291 (1986); Yancy v. American Petrofina, Inc., 768 F.2d 707 (5th Cir.1985) (all holding that absent evidence of employer misconduct, having elected early retirement and having received a lum......