Insights
Client Alert
The Seventh Circuit Reverses the Disastrous IBM Cash Balance Plan Ruling
August 14, 2006
Stephen Harris and Ethan Lipsig
On August 7, 2006, cash balance plan sponsors breathed a collective sigh of relief when the Seventh Circuit ruled that IBM’s cash balance plan did not violate the age discrimination proscriptions set forth in the Employee Retirement Income Security Act (ERISA). In reversing the district court, the 7th Circuit became the first circuit court to weigh in on this issue.
