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...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date