IBM, Court And Congress Weigh In On Hybrid Plans
First, Congress addressed the plans in its massive pension reform bill—the Pension Protection Act of 2006 (PPA)—which was passed on August 3, 2006.
Then, on August 7, the United States Court of Appeals for the Seventh Circuit rejected claims that IBM’s cash balance plan violated the age discrimination provisions of the Employee Retirement Income Security Act (ERISA). The decision in Cooper v. IBM Personal Pension Plan applies...
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