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Fourth Circuit Finds No Backloading Problem With Accrual Increases After Normal Retirement Age
Seyfarth Shaw 
Aug. 23, 2012 "[The Fourth Circuit found that] benefit accrual increases to participants who have reached normal retirement age ... do not run afoul of ERISA's prohibition against 'backloading' accruals in later years of service.... [This] is the first reported Court of Appeals decision to find that ERISA's anti-backloading provisions do not apply to benefit accrual increases for plan participants who have reached normal retirement age." [McCorkle v. Bank of America Corp., 2012 U.S. App. LEXIS 15346 (4th Cir. July 25, 2012)] MORE >> |
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