Lawsuit Filed Against Former Orange County Register Owners.

Position:LEGAL BRIEFS - Aaron Kushner, Eric Spitz, Richard Covelli, Traci M. Christian - Brief article

According to the Los Angeles Times, the Pension Benefit Guaranty Corp. (PBGC) has filed a lawsuit against former Orange County (Anaheim, Calif.) Register co-owners, Aaron Kushner and Eric Spitz as well as Richard Covelli, a pension expert they entrusted, and his actuary, Traci M. Christian. In 2014, Covelli penned the plan that the co-owners purchase company-owned life insurance policies on their employees. Upon the worker's deaths, this money would be contributed to the newspaper's pension fund, which was millions of dollars in debt. While this type of insurance is legal, the PBGC argued that Kushner and Spitz...

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