Northern Trust Escapes ERISA Suit Over Benefit Changes

Law360, Chicago (March 7, 2017, 7:28 PM EST) -- An Illinois federal judge on Monday tossed a putative class action accusing financial advisory firm Northern Trust Co. of violating the Employee Retirement Income Security Act through changes to its employees' pension plan, ruling that the company did not guarantee that it would always tie benefit increases to salary.

U.S. District Judge John W. Darrah dismissed the lawsuit, but gave lead plaintiff James Teufel the opportunity to refile his ERISA claims against Northern Trust "if he can do so in a manner consistent with this opinion."

Teufel alleges that a 2012 policy to cap yearly benefit increases at 1.5 percent violates a...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

Subscribers Only

Nature of Suit

Subscribers Only

Judge

Subscribers Only

Date Filed

Subscribers Only

Law Firms

Companies

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!