ERISA and the Internal Revenue Code require that employers amending defined benefit and money purchase pension plans to significantly reduce the rate of future benefit accruals or early retirement benefits must notify affected employees of the change. The notice requirement constrains communications by employers seeking to freeze benefits, convert to cash balance plans, or change benefit formulas, and can be a powerful tool in the hands of employees seeking to challenge benefit reductions. The panel will discuss the statutory requirements and recent court interpretations, including cases holding plan amendments void.
Topics that will be addressed include the following:
Panelists:
Alan Tawshunsky, Deputy Division Counsel/Deputy Associate Chief Counsel (Employee Benefits), Internal Revenue Service, Washington, DC
Susan Katz Hoffman, Littler Mendelson, Philadelphia, PA
Thomas Moukawsher, Moukawsher & Walsh LLC, Hartford, CT
Moderator: Teresa Renaker, Lewis, Feinberg, Lee, Renaker & Jackson, PC, Oakland, CA
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