Bates & Company, Inc.
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Regional Vice President of Sales The Retirement Plan Company
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Loan & Distribution Specialist AimPoint Pension
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AimPoint Pension
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Compass
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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IBM Wins; Text of 7th Circuit Decision in Cooper v. IBM Cash Balance Plan Age Discrimination Case (PDF)
U.S. Court of Appeals for the Seventh Circuit via BenefitsLink [Opinion] Aug. 7, 2006 Excerpt: Like a defined contribution plan, a cash-balance plan removes the backloading of the pension formula; older workers (accurately) perceive that they are worse off under a cash-balance approach than under a traditional years-of-service-times-final-salary plan. But removing a feature that gave extra benefits to the old differs from discriminating against them. Replacing a plan that discriminates against the young with one that is age-neutral does not discriminate against the old. |
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