Detroit Edison Retiree Scores Revival of Pension Transfer Suit

摘要

A retiree of Detroit Edison Co. on Tuesday convinced the U.S. Court of Appeals for the Sixth Circuit to revive part of her lawsuit claiming the company shortchanged workers on their retirement benefits by failing to properly explain the potential downsides of choosing to move from the company's traditional pension plan to a cash balance plan.Leslie D. Nolan can move forward with a claim for benefits under the Employee Retirement Income Security Act and with one of her claims for disclosure failures under the statute, the court held. But her claim accusing DTE of failing to properly disclose plan amendments was properly dismissed as time-barred, the court said.