Loan & Distribution Specialist AimPoint Pension
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AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Compass
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Bates & Company, Inc.
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Verizon Management Retirees' Suit May Proceed, Judge Rules
Pensions & Investments Mar. 31, 2013 "U.S. District Court Judge Sidney Fitzwater in Dallas ruled that the class of about 41,000 retirees who were affected by the [purchase of a group annuity from Prudential to transfer $7.5 billion in pension obligations] could sue as a group. He also ruled that another 50,000 plan participants whose benefits were not part of the transfer could also sue.... [Issues are] whether the transaction violated ERISA Section 404(a), whether the plan's summary plan description satisfied the requirement to disclose the circumstances that might result in a loss or reduction of benefits, and whether the transaction violated ERISA's non-discrimination provision." |
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