Federal Judge Addresses Proposed Remedy, Notice In Cash-Balance Conversion Case
Mealey's (January 25, 2016, 12:51 PM EST) -- NEW HAVEN, Conn. — In litigation over Cigna Corp.’s conversion from a traditional defined-benefit pension plan to a cash-balance plan that has been pending for 15 years, a federal judge in Connecticut on Jan. 21 ruled that the required notice of reduction in benefit accrual should include the formulas for the benefits (Janice C. Amara, et al. v. Cigna Corp., et al., No. 3:01-cv-2361, D. Conn.).
(Jan. 14 opinion on methodology available. Document #54-160210-022Z. Jan. 21 opinion on notice available. Document #54-160210-023Z.)