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In an important win for plaintiffs in ERISA cases, the 3rd U.S. Circuit Court of Appeals has ruled that the doctrine of ratification cannot be used to justify retroactive application of a change to a pension plan if it would have the effect of reducing a worker's accrued benefits. Senior 3rd Circuit Judge Max Rosenn called the lawsuit "a by-product of corporate America's recent effort to curb costs by ... scaling back the benefits provided under pension plans."
November 15, 2004 at 12:00 AM
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The original version of this story was published on Law.Com
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