Pension “de-risking” sounds like a fancy term for protecting participants’ interests in their benefits. In other words, take the risk out of pension benefits. Well, not quite. Not even close.Pension de-risking is a scheme to benefit employers who sponsor pension plans. It refers to ways in which the employer can reduce its own risk that […]
If you are a union employee, you probably have a pension plan that has promised to pay a monthly annuity for your life once you reach retirement age. What happens if the plan cannot pay your benefit when the time comes? Well, there’s insurance for that. Pension plan sponsors are required to pay premiums for […]
In an intensely litigated ESOP (employee stock ownership plan) case involving 14 counts of ERISA violations, on April 22, 2019, Judge Staton, District Judge, Central District of California, certified a class of ESOP participants.The certification came after the court denied the Defendants’ motions to dismiss all 14 counts. The case, as a whole, has many […]
