The Seventh Circuit Reverses the Disastrous IBM Cash Balance Plan Ruling

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.

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