Monthly LRA Update: February 2008

JUDICIAL DEVELOPMENT

Daft vs. Advest, Inc. – Court Rules Plan is Subject to ERISA Requirements

We became aware of Daft v. Advest, Inc. last week, in which a U.S. District Court in Ohio concluded that a plan failed to qualify as a top-hat plan and therefore became subject to ERISA’s requirements, including vesting.

Attached is an AALU Bulletin summarizing the case and its outcome. We will pass along the actual case with the monthly LRA update.