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Retirement Plans & Age Discrimination

By |2007-12-13T10:23:04+00:00December 13th, 2007|Categories: Age Discrimination, Employment Law News, ERISA & Benefits|

"No good deed goes unpunished."   "Sometimes you just can't win." Those sentiments (and perhaps a few others) must be floating around the hallways at Northwest Airlines, where the company and its pilots' union, the Airline Pilots Association, have joined forces to  save a new retirement plan from an age discrimination challenge by a group [...]

LaRue v. DeWolff Followup . . . and a Prediction

By |2007-11-27T10:48:12+00:00November 27th, 2007|Categories: Employment Law News, ERISA & Benefits|

Here's Bloomberg's followup story on yesterday's argument in LaRue v. DeWolff Boberg.  Also some thoughts from the Pension Protection Act Blog. Many who are following this story have weighed in with their predictions on how the Supremes will rule.  So I'll pick up the challenge and go where angels fear to tread. The prevailing view seems [...]

Employees Can Sue Employer for Fraud in Cancellation of Severance Plan

By |2007-07-27T09:16:09+00:00July 27th, 2007|Categories: ERISA & Benefits|Tags: , , , |

Here's a report of a very interesting severance benefits case from federal court in Chicago.  Right now we just have a story from Business Insurance, but will provide more extensive coverage when we get a copy of the court's opinion.   Ninety ex-employees of CNA Financial will be allowed to go to trial to try to prove [...]

ERISA: Reliance Damages Are Not Preempted

By |2017-02-02T17:51:49+00:00May 18th, 2007|Categories: ERISA & Benefits|

You could build a good sized library from the decisions of the courts --- from the US Supreme Court on down --- that have wrestled with the often inscrutable provisions of ERISA, the Employee Retirement & Income Security Act.  A big percentage of the decisions in your library would deal with the question of whether particular state law claims brought [...]

Deferred Compensation Rules Become Stricter

By |2007-05-10T09:53:35+00:00May 10th, 2007|Categories: Employment Law News, ERISA & Benefits|

Law.com reports that the IRS has made sweeping changes to its deferred compensation rules that affects common business compensation practices, including stock options, bonuses, and severance policies. The new rules impose tougher standards and penalties for violations.  Compliance is due by December 31, 2007.  Employers should review the changes with counsel to ensure that their policies meet the [...]

3rd Circuit Upholds PNC Cash Balance Plan

By |2017-02-02T17:52:01+00:00February 1st, 2007|Categories: Employment Law News, ERISA & Benefits|

Cash balance plans are in the air.  Yesterday we reported on a decision by Judge Chesler of the District of New Jersey that upheld Dun & Bradstreet's cash balance plan against an age discrimination attack.  Today the Third Circuit has weighed in on the issue, holding that PNC's cash balance plan does not unlawfully discriminate [...]

Cash Balance Plan Not Age Discriminatory

By |2007-01-31T09:37:44+00:00January 31st, 2007|Categories: Employment Law News, ERISA & Benefits|

Earlier this month we reported on a big win the the US Supreme Court for IBM, whose cash balance retirement plan was challenged by older workers as age discriminatory.  The defect, the plaintiffs argued, was that the plan treated younger workers more favorably.  The Supreme Court ruling does not settle the issue on a national [...]

Small Business Retirement Benefits —Less Than You Might Think

By |2006-12-13T05:37:44+00:00December 13th, 2006|Categories: ERISA & Benefits, Just Interesting|

Reuters and Inc.com report that only 14% of small businesses offer 401(k)'s to their employees, and 63% do not offer any retirement benefit of any kind. "The survey found that owners who do not provide retirement benefits fail to do so for a variety of reasons. Fifty-four percent said they didn't have enough employees to [...]

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