Plan Administrator Seeks Rehearing After 2nd Circuit Permits Benefits Recalculation

Mealey's (January 9, 2020, 12:24 PM EST) -- NEW YORK — A Second Circuit U.S. Court of Appeals panel’s finding that the Employee Retirement Income Security Act allows for the reformation of a plan and recalculation of benefits as relief in a lawsuit where a retirement plan’s terms were found to violate ERISA conflicts with controlling precedent, PricewaterhouseCoopers LLP (PwC) argues in a Jan. 6 petition for panel rehearing and rehearing en banc (Timothy D. Laurent, et al. v. PricewaterhouseCoopers LLP, et al., No. 18-487, 2nd Cir.)....