PIUMPFPACE (Programs of All-inclusive Care for the Elderly) Industry Union Management Pension Fund
References in periodicals archive ?
However, the implementation of that decision, involving the transfer of pension fund assets to an insurer selling the annuities, does, and PACE and its pension fund, the PACE Industrial Union Management Pension Fund, or PIUMPF, argued that their merger offer deserved the same consideration.
But once it is realized that a merger is simply a transfer of assets and liabilities, PACE's argument becomes somewhat more plausible: The purchase of an annuity is akin to a transfer of assets and liabilities (to an insurance company), and if Crown was subject to fiduciary duties in selecting an annuity provider, why could it automatically disregard PIUMPF simply because PIUMPF happened to be a multiemployer plan rather than an insurer?