Where the plaintiffs, three former Johnston police officers
who retired due to injuries sustained in the line of duty, have requested a
declaratory judgment regarding the ownership of funds that had been deposited
in accounts organized under §457 of the Internal Revenue Code, the plaintiffs
have a property right to the funds in the accounts.
“… Specifically, the parties are in dispute over the 6% of
each of these officers’ salaries that the officers voluntarily deferred when
they began serving in the police force, as well as the 12% match promised by
the Town in return for employees foregoing such compensation in the short term.
…
“The plan at issue is a §457 deferred compensation plan. …
“… [T]he I.R.C. and the Deferred Compensation Agreement
require that the Town pay the police officers the compensation they earned
through their service to the Town. …”
Faella, et al. v. Town of Johnston, et al. (Lawyers Weekly
No. 61-092-19) (31 pages) (Silverstein, J.) (Providence Superior Court) Scoot
K. Demello, Michael J. Lepizzera and Timothy J. Robenhymer for the plaintiffs;
William J. Conley Jr., Gina Lemay and Andrew S. Cormier for the defendants
(C.A. Nos. PB-2010-0311 and 0060) (Aug. 22, 2019).
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