7th Circuit Says Amendment To Pension Plan Did Not Violate Anti-Cutback Rule

(April 16, 2018, 1:40 PM EDT) -- CHICAGO — The Seventh Circuit U.S. Court of Appeals on April 11 affirmed a district court’s dismissal of a pension plan participant’s suit after determining that an amendment to the pension plan’s calculation of retirement income credits does not violate the Employee Retirement Income Security Act’s anti-cutback rule because the amendment is actually favorable to the plan participant and did not cause a decrease in the plan participant’s accrued benefit (James P. Teufel v. The Northern Trust Co., et al., Nos. 17-1676, 17-1677, 7th Cir., 2018 U.S. App. LEXIS 9033)....

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