WASHINGTON, D.C. - The U.S. Supreme Court on Feb. 19 denied review of a Fourth Circuit U.S. Court of Appeals ruling that a cash balance pension plan sponsored by Bank of America Corp. did not unlawfully calculate participants' lump-sum benefits or violate anti-backloading provisions of the Employee Retirement Income Security Act by defining "normal retirement age" (NRA) as five years of vesting service (David L. McCorkle, et al. v. Bank of America Corporation, et al., No. 12-700, U...(read more)Image may be NSFW.
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