Weyland wishes to modify their pension plan. The current plan allows employees to either receive $500 a month or $100,000 upfront upon retirement. Both plans also offer a annual ticket to the company retreat cruise. Seeking to incentives people to accept $500 a month, Weyland wishes to tie the ticket to employees receiving $500 a month only to apply retroactively to $100,000 lump sum plan.
- Does this violate ERISA? Why or why not?