Bakery & Confectionary Union & Industry Int’l Pension Fund Pension Plan
United States District Court for the Southern District of New York
Case No. 11-01471
Keller Rohrback filed the Consolidated Amended Class Action Complaint in In re Bakery & Confectionary Union & Industry Int’l Pension Fund Pension Plan on behalf of Plaintiffs and a proposed Class of similarly situated persons.
Plaintiffs allege that Defendants violated the anti-cutback provisions and/or the fiduciary responsibility provisions of the Employee Retirement Income Security Act of 1974 (as amended) (“ERISA”) when they amended the Plan, effective July 1, 2010. The amendment changed the rule that permitted participants to “age into” eligibility for the Golden 80 and Golden 90 pension benefit plans. Prior to July 1, 2010, a participant who retired before normal retirement age could leave Covered Employment and receive his or her full pension benefit as soon as he or she “aged into” the 90 or 80 years of combined age and service, without having his or her benefit reduced due to early receipt of the benefit before normal retirement age and without returning to work in Covered Employment.
On June 6, 2012, Judge Briccetti ruled that the Amendment violated ERISA’s anti-cutback provisions. Defendants appealed this ruling to the Second Circuit Court of Appeals and on May 1, 2014, the Court of Appeals Affirmed Judge Bricetti’s ruling.