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Recent State Supreme Court Decisions Highlight Restrictive Approach to Vested Rights in Provisions of Public Pension Plans
Ice Miller LLP Apr. 3, 2019 "In [two recent] cases, petitioners argued that they held a vested right to a benefit no longer available under the plan.... However, both state supreme courts held that these benefits were not part of the participants' accrued benefits ... and therefore, the participants did not have any entitlement or right to receive them.... Broadly, the cases demonstrate a reluctance by state courts to expand the understanding of participants' vested rights in public pension systems beyond annuity payments." |
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