Labor Secretary Rips Cigna Retirement Plan In 2nd Circ.

By Sindhu Sundar (November 20, 2013, 7:21 PM EST) -- A lower court was correct to ask Cigna Corp. to make changes to its retirement plan in light of the U.S. Supreme Court's 2001 ruling in a class action that a section of ERISA could allow such equitable remedies, the U.S. Secretary of Labor told the Second Circuit Tuesday.

In an amicus brief, Department of Labor Solicitor M. Patricia Smith and attorneys for the DOL argued in favor of the certified class of some 25,000 workers who had accused Cigna of not sufficiently informing them about changes the company had made in their retirement plan that reduced the plaintiffs' pension benefits....

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