US - The US Supreme Court sided with businesses in a dispute over the meaning of ambiguous pension plans, ruling that a federal trial judge should have deferred to Xerox Corp.'s interpretation of its plan.
The justices, voting 5-3, overturned a lower court ruling favoring more than 100 Xerox employees who were rehired by the company after they left and received pension distributions. The employees sa...
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