US - A district court ruling on IBM's cash balance or hybrid pension plan that suggests "virtually all hybrid defined benefit plans are unlawful" could see the destruction of the nation's defined benefit pension system, argue the ERISA Industry Committee (ERIC) and the American Benefits Council.
The two bodies have filed a joint amicus brief with the US Court of Appeals against a decision made by the United States District Court for the Southern District of Illinois, arguing the court’s in...
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