Tenth Circuit Puts One More Nail in the Coffin for Cash Balance Plan Litigation

BNA Pension & Benefits Daily

Darren Nadel and Stephanie Stein provide in-depth commentary on Tomlinson v. El Paso Corp., in which the United States Court of Appeals for the Tenth Circuit held that El Paso Corporation’s transition to a cash balance pension plan did not violate federal laws relating to anti-age discrimination and pensions. Nadel and Stein conclude that “the Tenth Circuit’s decision emphasizes the importance of strictly complying with ERISA’s notice requirements and providing truthful, straightforward disclosures to pension plan participants in connection with plan changes. Failure to do so can result in significant consequences, including costly litigation and even invalidation of the plan amendments.”

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