Plaintiffs in the case allege that CIGNA is not following new calculations ordered by a federal court to remedy its breach of providing inadequate disclosures to participants about its conversion from a traditional defined benefit plan to a cash balance plan.
Tag: cash balance plans
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A newly filed complaint takes issue with the way MetLife calculates the actuarial equivalence of different types of annuity benefit options available in the firm’s pension plan.
In an issue snapshot, the Internal Revenue Service (IRS) discusses when a cash balance plan amendment reduces (or potentially reduces) the interest crediting rate.