CU Cries Foul Over Pension Plan

AUSTIN, Texas - Velocity CU has filed suit in state court claiming a $10 million retirement plan it established for top executives will not pay out as promised.

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In an action filed in Travis County District Court, the CU claims that Standard Insurance Co. and Benefits Unlimited Co. mishandled the retirement plan. Houston-based Benefits Unlimited brokered the policy for Standard Insurance, which is based on Portland, Ore. (c) 2007 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com


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