North State SHRM News & Legal Updates
Your source of relevant news in HR in the North State, California and nationwide.
In Anderson v. DHL Retirement Pension Plan,1 the Ninth Circuit followed the First Circuit in finding that the elimination of the right to transfer an account balance from a defined contribution plan to a defined benefit plan does not violate the Employee Retirement Income Security Act of 1974’s (ERISA) “anti-cutback” rule. However, the Ninth Circuit reached its conclusion on a different basis than did the First Circuit.
ERISA’s “Anti-Cutback” Rule
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