High Court Review Sought Of Cash-Balance Plan’s ‘Normal Retirement Age’ Definition

(December 8, 2015, 8:09 AM EST) -- WASHINGTON, D.C. — PricewaterhouseCoopers LLP on Nov. 13 sought U.S. Supreme Court review of a Second Circuit U.S. Court of Appeals ruling that the company’s cash-balance pension plan violates the Employee Retirement Income Security Act because it defines “normal retirement age” as five years of service, which the appeals court found “bears no plausible relation to ‘normal retirement’” (PricewaterhouseCoopers LLP, et al. v. Timothy D. Laurent, et al., No. 15-638, U.S. Sup.).

(Petition for a writ of certiorari available. Document #54-151209-036B.)

In its July 23 ruling,...
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