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Plaintiffs Reject Citigroup's ERISA Compliance Plan

Law360 (September 6, 2007, 12:00 AM EDT) -- Citigroup Inc. employees insisted on Wednesday that the bank's current proposal to fix three violations of the Employee Retirement Income Security Act of 1995 is insufficient.

On Wednesday in the U.S. District Court for the Southern District of New York, the certified class filed a reply to the defendants' Aug. 15 memorandum outlining how Citibank intends to come into conformity with a court order that found their pension plan in violation of ERISA.

The plaintiffs argued that the defendants' plan to abide by the order, once...
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