Paric Corp. v. Michael P. Murphy

Defendant, Michael P. Murphy, filed an amended counterclaim against Paric Corporation (Paric) requesting delivery of certain documents relating to Paric's profit-sharing plan (Count I) and recovery of benefits under the profit-sharing plan (Count II). The trial court dismissed Count I and entered judgment in favor of Paric on Count II because Murphy failed to provide the consent and election forms necessary to receive benefits prior to age sixty-five in a form other than a Qualified Joint and Survivor Annuity (QJSA). It ordered each party to pay its own costs and attorney's fees. Murphy appeals. We affirm. Paric employed Murphy from September, 1981 to April 15, 1991. He served as controller, vice president, chief financial officer, and as a board member and participated in the company's profit-sharing plan (the Plan). Paric was the Plan Administrator. Murphy helped set up the Plan, and worked with outside counsel on amendments to the Plan, and was responsible for all aspects of the administration of the Plan.