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Board Finds Liability For Constructive Receipt of Pension Plan Assets at Plan Merger

Client Alert | 1 min read | 06.18.07

Determining entitlement on an appeal by ICI Americas, Inc. (May 23, 2007), of an Army claim for $80 million in surplus pension assets, the ASBCA held that (1) until a contractor “receives” (meaning “to take possession or delivery of”) money, the government has no basis for recovery of a credit under the credits clause, FAR 31.201-5; (2) where no pension costs are paid under a particular contract subject to FAR 31.205-6(j), but not subject full CAS coverage, the CAS 413.50(c)(12) segment closing provisions are not applicable to the contract through FAR 31.205-6(j); (3) a contractor constructively receives pension assets through a pension plan merger and must in accordance with FAR 31.205-6(j)(4), Termination of Defined Benefit Pension Plans, refund the government the equitable portion of any overfunding; and (4) the Board could admit expert reports and testimony that included interpretative material on CAS, affording appropriate weight to such interpretations."

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Client Alert | 3 min read | 12.13.24

New FTC Telemarketing Sales Rule Amendments

The Federal Trade Commission (“FTC”)  recently announced that it approved final amendments to its Telemarketing Sales Rule (“TSR”), broadening the rule’s coverage to inbound calls for technical support (“Tech Support”) services. For example, if a Tech Support company presents a pop-up alert (such as one that claims consumers’ computers or other devices are infected with malware or other problems) or uses a direct mail solicitation to induce consumers to call about Tech Support services, that conduct would violate the amended TSR. ...

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