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Second Circuit Joins Others in Ruling that Pre-PPA Cash Balance Plans Do Not Violate ERISA Age Discrimination Provisions
Deloitte 
[Guidance Overview] Aug. 12, 2008
Excerpt: The court ruled that the ERISA provisions -- which prohibit an employee's 'rate of benefit accrual' from being reduced because of age -- refer to the employer's contributions to the plan and not to the employee's accrued benefit (which is expressed as an annuity commencing at normal retirement age). As such, a cash balance plan does not violate ERISA § 204(b)(1)(H)(i) where two similarly situated employees receive the same contribution even though a smaller annuity at normal retirement age will result for the employee who is older.
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