A few months ago, I reported on the District Court’s decision in Amara v. CIGNA, an important class-action case on ERISA retirement benefits and on alleged misrepresentations made by the Company about retirement benefits. Over the last few months, then, the court was asked to consider the issue of what is appropriate relief from the
defined benefit plan
Court: Retirement Plan Changes Ok, but Retirees Need Proper Notice and Disclosures
Difficult, time-consuming, and expensive litigation with uncertain results – such as this case represents – is assuredly not a sensible way to manage the Nation’s retirement system for either employers or employees. Sadly, at least for now, litigation appears to be the only option available to them.
In a 122 page opus on ERISA law…
Court: SNET’s Conversion to Cash Balance Plan Does Not Violate ERISA
By Daniel Schwartz on
Posted in Litigation
First, a warning.
If your eyes glaze over at discussing the difference between cash balance plans and defined benefit plans, this post is not for you. However, for those employers who are considering converting their retirement plans or who have done so, a new case released this morning provides some much-needed guidance in Connecticut about…