Cash-Balance Plans Not Anti-Age: 9th Circ.

Law360, New York (August 22, 2008, 12:00 AM EDT) -- Following the lead of four other appeals courts, the U.S. Court of Appeals for the 9th Circuit ruled Wednesday in a case involving employees of Southern California Gas Co. that cash-balance benefit pension plans do not discriminate against older workers.

The three-judge panel joined the 6th, 3rd, 7th and 2nd Circuits in holding that cash-balance plans do not violate the anti-age discrimination provisions of the Employee Retirement Income Security Act.

The suit that made its way to the 9th Circuit was filed by employees of Southern...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.