CINCINNATI - The Sixth Circuit U.S. Court of Appeals affirmed on March 28 that retirees are entitled to additional pension benefits on their claims that the cash-balance pension plan miscalculated their lump-sum payments by failing to apply a whipsaw calculation but ruled that the lower court abused its discretion by mechanically applying the statutory rate for prejudgment interest (William J. Schumacher v. AK Steel Corporation Retirement Accumulation Pension Plan, et al., Nos. 12-3061, 12-3063,...(read more)![]()
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