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DHL Pension Transfer Option Elimination Doesn't Violate ERISA Anti-Cutback Rules
Bloomberg BNA Link to more items from this source
Sept. 16, 2014
"Shipping company DHL didn't illegally take away its employees' pension benefits when it eliminated their ability to transfer an account balance from the company's defined contribution plan to its defined benefit plan, the U.S. Court of Appeals for the Ninth Circuit ruled....Although the court affirmed a ruling in favor of DHL, it expressed its concern for the reduction in actual benefit payments that plan participants experienced as a result of the amendment. However, the court said, this reduction was less a function of the removal of an accrued benefit and more the work of the different actuarial assumptions used by the two plans." [Anderson v. DHL Retirement Pension Plan, No. 1236051 (9th Cir. Sept. 15, 2014)]

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