CHICAGO - Retirement plans did not violate the Employee Retirement Income Security Act by retroactively modifying the discount rates used to calculate lump-sum payouts, rather than using the discount rates in effect at the time of the participants' termination of employment, the Seventh Circuit U.S. Court of Appeals affirmed March 6 (John J. Dennison v. MONY Life Retirement Income Security Plan for Employees, et al., No. 12-2407, 7th Cir.; 2013 U.S. App. LEXIS 4651)....(read more)![]()
↧