Opinion ID: 760887
Heading Depth: 4
Heading Rank: 1

Heading: Muse: Focus on a particular plan for a particular purpose

Text: 26 IBM clearly had a particular purpose in mind during the lengthy retirement plan redesign process in this case. It began and ended the process with the goal of making retirement more attractive and more feasible for long-term employees as a part of an overall plan of downsizing. A particular plan is less easy to decipher here, but it is clear that this court in Muse did not mean to indicate that a finalized plan in its ultimate incarnation is necessary. If it had meant that, it could have easily indicated that a finalized or adopted plan was required before the fiduciary obligations surrounding serious consideration became an issue. Instead, this court used the test of focusing on a particular plan for a particular purpose. In the case at bar, IBM had narrowed its options to the point where the final change in retirement plan was certain to include the removal of early retirement penalties, the major issue for the plaintiff class. Accordingly, the available evidence demonstrates the fulfillment of the Muse test for a particular plan for a particular purpose as of October 4, 1990, when the Management Committee, a group with the authority to approve the changes for implementation, considered plan options and directed personnel staff to proceed to a final design. Such consideration by a group with significant powers constitutes the company's focus on a plan as required by Muse.