Energy company settles retiree lawsuit for $30 million 
Published: May 18, 2011
Tags: class action, retirement benefits, South Carolina
Duke Energy will pay $30 million to settle a class-action lawsuit over changes to its retirement plan.
ERISA
By:
Correy Stephenson
Published: June 28, 2010
Tags: cash balance pension plan, ERISA, retirement benefits
Does a U.S. District Court have the authority to require employees’ prior benefit provisions to be reinstated after finding that the employer violated the advance notice of reduction requirement of ERISA? Does the court have the authority to require at least “comparable” future benefits to be provided based on a finding that participants were promised “comparable” or “larger” future retirement benefits?
Justices to hear ERISA case
By:
Correy Stephenson
Published: June 28, 2010
Tags: cash balance pension plan, ERISA, retirement benefits
Does a U.S. District Court have the authority to require employees’ prior benefit provisions to be reinstated after finding that the employer violated the advance notice of reduction requirement of ERISA? And does the court have the authority to require at least “comparable” future benefits to be provided based on a finding that participants were promised “comparable” or “larger” future retirement benefits?
The U.S. Supreme Court has agreed to answer these questions.
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