Verizon Retirees File ERISA Action Over Idearc Plans

Law360, New York (November 16, 2009, 2:30 PM EST) -- Three retirees have filed a putative class action against Verizon Communication Inc. over its decision to shift them from its own pension plans to plans run by subsidiary Idearc Inc. when the telecommunications giant spun off its information services division into the bankrupt unit.

The complaint — filed Friday in the U.S. District Court for the Northern District of Texas — accuses Verizon, along with two of its plans and its benefits management committee and Idearc's plans and committee, of violating the Employee Retirement Income Security...
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