Excerpt: 'The court recognized what ERIC has long argued, plans that adopt a 'greater of' transition are more generous to participants and do not conflict with the intent of ERISA's anti-backloading provisions,' said Ugoretz. In an important ruling of first impression, the Ninth Circuit also held that 'wearaway' in cash balance conversions does not violate federal or state age discrimination rules. The court determined that in a conversion a participant's accruals may temporarily cease until the benefit under the new formula exceeds the benefit calculated under the old formula. [Links to the Ninth Circuit Decision and to the ERIC Amicus Brief are on the target page.]  MORE >>