Cash Balance Plan Ordered to Pay $18 Million for Improper Benefit Calculation

PRC In the News
08/28/12|Bloomberg BNA Pension & Benefits Daily

Cash Balance Plan Ordered to Pay $18 Million for Improper Benefit Calculation

A cash balance pension plan must pay a certified class of plan participants $18,677,671 in additional plan benefits and prejudgment interest as a result of its failure to use a whipsaw calculation in determining lump-sum distributions of participants who terminated employment before their normal retirement age, the U.S. District Court for the Western District of […]

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