Nova 401(k) Associates
Creative Pension Consultants, Inc.
Nicholas Pension Consultants
Compensation Strategies Group, Ltd.
Atlantic Pension Services Inc
The Retirement Plan Company (TRPC)/an ABG firm
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
|Acceleration of Benefits Following Nonqualified Benefit Plan Termination Did Not Give Rise to ERISA Claim|
Fulcrum Partners LLC
Nov. 17, 2015
"[T]he 11th Circuit held that the termination of a nonqualified deferred compensation plan and acceleration of the participant's annuity benefits to a present value lump sum does not 'adversely affect' the participant's benefit.... The court dismissed [the participant's] claims finding that: ... [t]he tax impact is not an ERISA protected benefit; and [u]sing a discount rate to calculate the present value of a future benefit is not a reduction of benefits and therefore, does not 'adversely affect ... accrued benefits' in violation of the plan documents." [Taylor v. NCR Corp., No. 1:14-cv-2217-WSD (N.D. Ga. Sept. 23, 2015)]
|Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the link above).|
|An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified).|