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October 28, 1994|From Times Staff and Wire Reports

Chevron Wins Pension Ruling: A federal appeals court ruled that 44,000 former Gulf Oil Co. workers are not entitled to the money that existed in a pension plan when Gulf was purchased by Chevron Corp. in 1984. The U.S. 5th Circuit Court of Appeals in New Orleans found that nothing in federal law or the Gulf pension plan prohibited Chevron from merging the fund into its own pension plan in 1986. The former Gulf employees had claimed they were owed the surplus assets, estimated at more than $600 million, that had accumulated before the plans were combined.

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